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History

The 2000s

In 2000, LST Group welcomed a new member, as LST Teollisuussähkö Oy was established.

The founder and long-time managing director of Laivasähkötyö Oy, Mr. Heikki Hietarinta, passed away on February 5, 2000.

In 2003, LST Group acquired a part of Softex Oy, a manufacturer of low-pressure water mist extinguisher systems. These systems have both marine and land based applications.

The Turku shipyard of Aker Finnyards (formerly Kvaerner Masa Yards) received an order for three Ultra Eagle cruise ships in 2004. Laivasähkötyö Oy carried out various electrical projects for these cruisers. In 2006, Aker Finnyards received an order for a new Genesis class cruiser.

The greatest impediment to the operation of LST Group during the 2000s has been the new interpretation of tax-free allowances paid to employees sent out to work in another town. The new interpretation made by the Finnish tax office has been appealed and the appeal is pending in Finnish courts.

In 2006, some changes were made in the ownership of the companies in the LST Group: in LST Engineering Oy, a large part of the personnel became shareholders. At the same time, Mr. Jari Olkkonen took over as managing director.

Also in 2006, the parent company of the group, Turun Hallintopalvelu ja Agentuuri Oy, changed its name to LST Hallintopalvelu Oy.

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