The purchase of an industrial property in Kotka by Eagle Filters may have been overlooked amidst the flurry of earnings news on Thursday. A recent evaluation conducted by an external assessor determined that the fair value of the property, owned by a subsidiary of Eagle Filters, is 4.4 million euros, a significant increase from the 0.3 million euros it was purchased for last year.
The intense bidding process for the property attracted 107 offers and seven potential buyers, according to Yle. Jarkko Joki-Tokola, CEO of Eagle Filters, explained that the property is used for industrial purposes and that his company conducts industrial activities there. Despite its low purchase price, Eagle Filters saw it as a valuable opportunity to expand its operations.
Eagle Filters Group, previously known as Loudspring, is an investment company with a subsidiary specializing in air filtration technology. The increase in the property’s value has sparked discussions about accounting practices and equity issues. However, Joki-Tokola assured that all decisions will be made carefully and transparently to maintain transparency and accountability within the company.
Despite past losses, Eagle Filters has shown growth potential with plans to focus on achieving profitability in addition to growth in the current year. The acquisition of this industrial property in Kotka represents a significant opportunity for Eagle Filters and highlights their commitment to strategic investments and growth initiatives.
Overall, this acquisition presents a valuable opportunity for Eagle Filters to expand its operations and grow as a business while maintaining transparency and accountability within the company.
