Nov 19, 2020

Mantsinen Group is the 2020 Family Business of the Year in Finland

The 2020 Family Business of the Year award has been granted to Mantsinen Group Ltd Oy. The award was presented at the Finnish Family Firms Association’s autumn seminar on Wednesday, 11 November. 

Founded in 1963 by Veli and Juhani Mantsinen, Mantsinen Group is a family-owned company that manufactures, sells and maintains materials handling machines for the forest and steel industries as well as for ports. Mantsinen also provides logistics services for the forest and steel industries in Finland and Russia. The company’s head office is located in Liperi, North Karelia region of, Finland.

Over the years, Mantsinen Group has grown from a small enterprise of two brothers and a tractor into a strong export company with customers around the world. As of 2017, Veli Mantsinen’s daughter Mia Mantsinen has served as the company’s CEO.

This year, the selection of the Family Business of the Year placed particular emphasis on the owner family’s commitment to the company and on the owner family’s good practices that a family as the owner can use to add value to all stakeholders in family-owned companies. 

The Family Business of the Year award aims to highlight the importance of the family as a factor in the company’s success. 

- Not only is Mantsinen a strong local operator in North Karelia, but also an international company whose turnover is largely generated by exports. Mantsinen is a second-generation family enterprise, and the owner family has actively utilised the expertise of the Finnish Family Firms Association in the owner family’s good practices, as well as mentoring from more experienced family business owners, says Auli Hänninen, Executive Director of the Finnish Family Firms Association. 

The Family Business of the Year was selected for the 17th time this year. The award is granted annually to a successful family-owned company that has undergone at least one generational change and is investing heavily in the future. The family business award indicates that the owner matters. Who owns a company is not irrelevant for the company or for society. Companies need committed and competent owners, and Finland needs companies that invest in the future. 

- We have set clear growth targets for our business. A couple of years ago, we made an investment decision to expand the production facilities in Ylämylly; with this investment, we ensure the production growth potential for future doubling of our turnover. This is the company’s largest one-time investment in production technology. It feels great that we have managed to accomplish one significant enabler of growth. At this very moment, the market situation and future prospects are uncertain due to COVID-19, but we look to the future with confidence. We have a strong desire to develop and take the company forward despite the challenges, CEO Mia Mantsinen says. 

- This award feels exceptionally nice because it is family entrepreneurship that is being rewarded. Family entrepreneurship and the continuation of the business to the next generation have meant a lot to our parents. Our generation also has a clear aim of continuing the company for future generations.  For us, family entrepreneurship means continuity, resilience and heartfelt involvement in everything we do, Mantsinen says. 

The family business award panel included Philip Aminoff, Chairman (Veho Oy Ab), George Berner (Berner Oy), Jan Fazer (Karl Fazer Oy Ab), Timo Pihkala (LUT University), Miia Porkkala (Aho Group Oy) and Auli Hänninen (Finnish Family Firms Association).

For more information

Mia Mantsinen
Mantsinen Group Ltd Oy
Tel: +358 400 378 880

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