Sweden-based Eltel has expanded its railway business with the acquisition of Finnish signalling services company Celer.

In the Finnish railway market, Celer has an important market position providing railway signalling services.

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Eltel decided to improve its resources in the signalling and safety segment in Finland in order to meet growing customer demand.

The acquisition is complementary to Eltel’s current offering in Finland and provides clear synergies with its existing rail and road business.

Eltel Rail & Road president Fredrik Häggström said: "This acquisition of Celer is a great step forward for Eltel and is very much aligned with our strategic plan to expand in the Finnish market.

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"This acquisition of Celer is a great step forward for Eltel and is very much aligned with our strategic plan to expand in the Finnish market."

"Our customers have extensive investment plans and there are increasing needs to ensure sufficient competences and resources within this sector.

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"Through this acquisition of Celer, Eltel can scale up its Finnish business and further develop cross border co-operation between our Eltel entities to be able to meet the needs of our customers."

Celer has 29 employees offering specialised signalling and safety services, with an annual turnover of €6m.

The company’s activities include installation, corrective and preventive maintenance, project management, engineering and design, while its customers include infrastructure manager Liikennevirasto, Helsinki Metro and several signalling and construction companies.

The acquisition of Celer further expands Eltel’s Nordic footprint in the signalling market as a complement to the acquisition of Vete Signaltjenester in Norway in October.