Canatu to Expand with New Production Facility in Finland

Canatu Plc is expanding with a new facility next to its current headquarters and factory in Vantaa, Finland. The company has signed a 70-month lease for a facility at Tiilitie 6, Vantaa, and extended the lease for its current headquarters and factory at Tiilenlyöjänkuja 9A, Vantaa, for an additional six years.

The decision to expand is driven by the need for more space to accommodate the company’s long-term growth plans. The new facility will provide the required additional capacity to support the development and production of potential new customer reactors, next reactor generations, and a medical diagnostics laboratory.

It will also provide much-needed office space, as the current headquarters have reached full capacity in this respect. Canatu expects that reaching the long-term financial targets in 2027 may require to grow the headcount by 25-35 full-time equivalent employees (FTEs) annually.

“Canatu has grown strongly in recent years and aims for over EUR 100M in revenue in 2027. This new facility is a key enabler of Canatu’s long-term growth plans,” said Juha Kokkonen, CEO of Canatu.

The new factory and office facility spans over 3,000 square meters. The combined production and office space will nearly double in size.

“Finland is an attractive location for expansion due to its low electricity costs—among the lowest in Europe—, reliable infrastructure, and the availability of skilled workforce. Canatu has successfully attracted operators and maintenance workers to support its growing needs. This marks another step towards establishing a ‘Nano Valley’ in Finland,” Kokkonen added.

The close proximity of the two sites, within walking distance of each other, offers several advantages. Both facilities will share manufacturing, facility management, maintenance, and logistics resources, eliminating duplication and reducing costs. With the new facility located next to the current site, teams can easily move between the headquarters and factories, minimizing travel time and ensuring seamless collaboration.