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    • The 1970s
    • The 1980s
    • The 1990s
    • The 2000s
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History

The 1980s

The eighties were a period of strong growth and development. In 1981, Laivasähkötyö purchased Tuikola machine works.

1982 was the year of the biggest individual contract in the history of the company up to that point. The contract involved the electrical installations of eight marine exploration vessels for a total of about FIM 50 million. This was a very demanding project that lasted for several years, providing additional stability for the business.

In 1988, it was time for the next generation to take over: Heikki Hietarinta stepped down and handed the company over to his son, Juha Hietarinta. Another change of ownership took place that year, too. Heikki Hietarinta and his wife Sinikka sold Laivasähkötyö Oy to Turun Hallintopalvelu ja Agentuuri Oy established in 1986 and owned by their children. This acquisition was the beginning of the LST Group.

More acquisitions followed in 1988, when Laivasähkötyö Oy purchased Gistele Oy, a distribution board manufacturer, and sold the Tuikola machine works.

In 1988, Laivasähkötyö Oy signed a contract for 11 arctic tankers to be built at the Wärtsilä Late shipyard in Turku. The total value of the contract was FIM 40 million. The project lasted about four years. Additional difficulties were brought on by the fact that the Late shipyard was closed down and the building of the tankers was moved to two different shipyards in Turku as well as the Rauma-Repola shipyards in Pori and Rauma.

In the late eighties, signs of recession were clearly seen. Wärtsilä Meriteollisuus went bankrupt in 1989, which meant FIM 8.7 million in bad credit to Laivasähkötyö Oy and put the company out of work for two months.

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