Reka Industrial’s board resigns – In the background, there is a disagreement over the use of the cash pile

Industrial investment company Reka Industrialin the board has decided to convene an extraordinary general meeting to elect a new board for the company.

The company has been sitting on a pile of money from the sale of Reka Kaapeli for a long time, for which the government has tried to find uses. However, no consensus has been reached, which is why the government is resigning.

“Reka Industrial’s board prepared a set of criteria in the spring of 2024 for the next stages of the strategy work. The government went through numerous companies. However, there was a limited number of potential companies that met the criteria, and in the end no arrangement was carried through to the end, because the board did not have a common vision on how to proceed,” the company says in a press release.

“We worked hard. The paucity of alternatives based on the selected criteria worried us throughout the process, and that is why we are updating the criteria for the new strategy work. I am confident that this is the right solution for the moment.” Board member of Reka Industrial and the company’s main owner Reka Oy:n chairman of the board Markku Rento states in the announcement.