Aspo Oyj / Telko Oy                             Press release                August 16, 2018

Telko Ltd has acquired the business of the Danish company Square Oil A/S

Telko Ltd has acquired the business of the Danish company Square Oil A/S. Square Oil is a service and distribution company dealing in lubricants, and its main principal is BP Castrol. Square Oil A/S has concentrated on demanding industrial lubricant customers. Net sales of the company is about EUR 3 million, half of which comes from Norwegian and the other half from Danish markets. Telko has similar significant long-standing cooperation in industrial lubricants with BP Castrol in Finland, Sweden and Norway. The transaction has no significant impact on Telko's result in 2018.

"Square Oil's business fits to Telko excellently. Principal of Square Oil, BP Castrol, is already significant partner for Telko. With the acquisition, we get good customer base in Denmark and Norway, and we also get very competent organization", says Kalle Kettunen, CEO of Telko.

Telko Ltd is owned by Aspo Plc which was founded in 1929.


For more information please contact:
Kalle Kettunen, Telko Ltd, CEO, tel. +358 40 558 5478, kalle.kettunen@telko.com


Telko Ltd is a Finland based leading distributor and expert of raw materials (plastics, chemicals, lubricants) having daughter companies in 16 countries and representing leading principals of the industries. The Company operates locally in the Nordic countries, Baltics, Russia, Ukraine, Poland and in many other growing markets in Eastern part of the world. Telko's extensive customer service includes also tailor-made technical support and development of production processes together with customers. Company's strength is comprehensive knowledge of raw materials, which knowledge Telko's specialists have got during the years while working with holistic customer projects. Telko has also a terminal in Rauma and many local warehouses in different markets where the company operates. www.telco.com

Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding B-to-B customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kauko - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules. www.aspo.com