In a powerful statement of commitment and confidence, Finnish construction technology giant Peikko Group Corporation officially inaugurated its state-of-the-art factory in the Bila Tserkva Industrial Park near Kyiv on April 24th. This move marks a significant foreign direct investment in Ukraine’s manufacturing capabilities, even as the country navigates the challenges of a full-scale invasion and focuses on rebuilding.
The grand opening, part of a joint ceremony for the Industrial Park, drew over 1,000 guests, underscoring the project’s importance. Dignitaries including Tarja Fernández, Finland’s Ambassador to Ukraine, Vasyl Khmelnytskyi, founder of UFuture holding, and Mykola Kalashnyk, Head of the Kyiv Regional Military Administration, were present to witness this milestone.
Strategic Investment in Reconstruction
Peikko, a global leader in concrete connections and composite structures, established its presence in Ukraine with an engineering office in Kyiv back in 2023. The new 2,400 m² facility represents a major leap, strategically positioning the company to significantly bolster Ukraine’s reconstruction efforts. Located within the modern industrial park, the factory boasts excellent transport links, facilitating efficient nationwide distribution of its core products: precast connections, innovative DELTABEAM® Composite Beams, and specialized industrial floor joints.
“We are honored to contribute to Ukraine’s reconstruction efforts with innovative solutions that require fewer resources, providing cost efficiency and faster construction timelines”, stated Topi Paananen, CEO of Peikko Group Corporation. “Establishing local manufacturing capacity strengthens our business presence and supports important humanitarian objectives”.
Paulius Bulota, Managing Director overseeing Ukrainian business development, added, “This factory marks a significant step in enhancing our service capabilities in Ukraine. Our clients will benefit from faster delivery, increased accessibility, and high standards of quality and professionalism for which Peikko is known globally”.
A Beacon for Innovation: Fedorov Hails Investment
The Peikko factory opening resonates deeply with Ukraine’s broader strategy for economic transformation, spearheaded by the Ministry of Digital Transformation. Minister Mykhailo Fedorov lauded the Finnish investment as a crucial step in fostering an innovation-driven economy.
Speaking on the significance of such developments, often highlighted at events like the recent “Industrial Evolution” forum, Fedorov emphasized the role of modern manufacturing hubs. “This is a tangible example of how global companies are investing in production in Ukraine, even during a full-scale invasion”, Fedorov remarked, viewing the Peikko facility as more than just a factory.
He elaborated on the strategic importance of such clusters: “Industrial parks are not just about production, but also about innovation. They give entrepreneurs access to infrastructure, communities, financing, and new markets”.
Fueling Ukraine’s Tech-Driven Future
Minister Fedorov stressed that Ukraine’s path to economic prosperity lies in technological advancement, positioning the Peikko investment within the government’s ambitious “WINWIN” strategy – a roadmap aiming to cultivate innovation across 14 key sectors, from medtech to defense tech, by 2030.
“We are moving in a direction where the main resource in Ukraine is technology”, Fedorov stated, outlining the WINWIN strategy’s promise for businesses, which includes benefits, fast-track processes, funding opportunities, and pathways to global markets.
The Peikko factory in Bila Tserkva stands as a symbol – not just of Finnish-Ukrainian partnership, but of Ukraine’s unwavering focus on building a resilient, modern, and technologically advanced future. As Fedorov concluded, the ultimate goal is clear: “We are working to make innovation the foundation of the Ukrainian economic miracle”.
