OÜ TMB Element
Press release
03.05.2019
TMB Element: Our Tartu factory is stronger than ever
TMB, a producer of concrete elements, focuses on improving the efficiency of its Tartu factory and developing its export business after selling its Latvian and Finnish businesses to the Consolis Group.
TMB, which increased its turnover by more than tenfold in a dozen years, has set efficiency, exports and investments as its key priorities for the coming years. The priority is the Tartu factory, which thanks to the freshly completed sales transaction can receive significant investments in order to continue improving the current high-level quality.
According to OÜ TMB Element Shareholder Vallot Mangus, the company’s Tartu factory is stronger than ever before and in a favourable position to improve exports to Latvia, Sweden and Finland.
“TMB’s growth has been faster than planned, facilitated by the expansion to Finland. Our turnover was ten times higher last year than it was ten years ago, and now is the time to set new goals for the future,” said Mangus. “In the near future, we are focusing on the development of the Tartu factory, but we want to observe the market behaviour before making any major new investments. We will not be likely to see growth at the pace comparable to that of the last two years.”
The turnover of the TMB Group in 2009 was EUR 12 million, last year it was a record EUR 124 million. In 15 years, a factory in Latvia was founded, exports to Sweden were started and Finnish company Betonimestarit was bought. The Latvian and Finnish factories now belong to Consolis.
“After the sale of the factories, the volumes will be decreasing at first, but the quality level is only rising. On its main target markets, TMB has a very good reputation and partnership-based customer relations, which we are now developing in even a more focused way,” Mangus said. “Successful export from Estonia is possible. We have proved this before and we are proving it now.”
TMB produces all the main concrete elements used in building structures. The company’s production has been used to assemble several famous buildings in Estonia and in the export markets. For example, the new main building of the Estonian National Museum, which won the title of the Concrete Building of the Year, and Tallink’s head office in Tallinn as well as several new academic buildings of the University of Tartu. At the Swedish market, the company has contributed to IKEA stores, a large packaging factory and dozens of apartment buildings.
“The key to the success of TMB lies in very good people whose dedicated and high-quality work has been the factor without which we would certainly have not been able to achieve such brilliant results,” added Mangus. “I believe that the future of the concrete field will be exciting because we will face the increasing use of robots, larger volumes and standardization. TMB also wants to contribute to the major projects of the future.”
According to Mangus, TMB has reached the third major stage in its development. The first of these started in 1998 when the construction companies Merko, YIT and Skanska purchased TMB. During this period, the factory in Latvia (2005) was launched, the affiliated company OÜ TM Betoon (2007) was established and exports to Scandinavia and Finland were started (2008). In 2012, the second stage began when the former management bought out TMB from its owners. It was the time when restructuring took place (2013) as well as the expansion of Latvian production (2015) and acquisition of Betonimestarit Oy in Finland (2016). Today, TMB in being continuously owned by Vallot Mangus, Jaan Luts and Jaan Valbet.
“For TMB, openness to different development alternatives, strategic opportunities, and flexibility in responding to change has ensured success,” Mangus noted.
OÜ TMB Element is one of the largest producers of concrete elements in the Baltic States. The company manufactures all the main concrete elements used in construction structures: wall elements, hollow-core panels, columns, crossbars and beams, stairs, TT-slabs, balconies, and other reinforced concrete products. The company’s production capacity is about 60,000m3 of concrete elements per year. The company is an important employer at the local level.
Additional information
Vallot Mangus
OÜ TMB Element
vallot.mangus@tmbelement.ee
Phone +372 505 8521
www.tmbelement.ee
