An external evaluator recently determined the fair value of an industrial property owned by a subsidiary of Eagle Filters in Kotka, Finland, to be 4.4 million euros. The property, located in the former Hovinsaari factory area, was purchased last year for just 0.3 million euros at an auction and has since been used for industrial purposes by Eagle Filters.
The bidding for the property was intense, with 107 offers received and seven buyer candidates competing. Despite the low purchase price, Eagle Filters saw the property as a significant opportunity and conducted an evaluation of its value by Newsec Advisory Finland to ensure accuracy and transparency.
Eagle Filters Group is an investment company that specializes in air filtration technology and has a subsidiary that conducts industrial activities. The increase in the property’s value is substantial compared to the company’s market value on the stock exchange. While there have been discussions about accounting practices and equity, Jarkko Joki-Tokola, CEO of Eagle Filters, assured that decisions will be made carefully and with transparency.
Despite past losses, Eagle Filters has shown growth potential and plans to focus on achieving profitability in addition to growth in the current year. The acquisition of the industrial property in Kotka presents a significant opportunity for Eagle Filters, demonstrating their commitment to growth and strategic investments.