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News 24.01.2018

Hongkongese Paladin establishes again a company in Finland

Hong Kong listed investment holding company Paladin Ltd (HKEX 495) has established its third technology company in Finland. DynimLabs follows the company duo Kindhelm and Pexraytech, which were founded earlier in 2017.

Paladin continues to invest in Finland. The Hong Kong based company, particularly attracted by the Finnish research and product development ecosystem, is currently recruiting for its newly founded company DynimLabs located in Oulu, Finland. The company is set to conduct research and product development of camera modules.

Within a year, DynimLabs will recruit 10 new employees. However, the company will indirectly create work for a number of experts through its partner companies in the wider development ecosystem.

"There are skilled employees and partners for us in Finland," says James Oung, CEO of Paladin. "The local ecosystem does not pale in any comparison. Throughout the process, we have received outstanding advice from Business Finland and BusinessOulu."

"Paladin is convinced first and foremost by the Finnish applied research and product development ecosystem, which benefits them greatly," comments Markku Lehikoinen, Senior Advisor at Business Finland's Invest in Finland. "Founding the third company underlines Paladin's satisfaction with Finnish expertize and Finland as an investment location. We are thrilled that Finland can offer international companies a competitive platform to grow and do their Next Big Thing."

"Oulu's long history with video analysis and camera research as well as competences in developing demanding terminal devices convinced Paladin to locate in Oulu," says Janne Mustonen, Key Account Director, ICT and Nano at BusinessOulu. "Their decision further enriches the local R&D ecosystem. We believe that the Oulu region provides an excellent platform for Paladin."

For Paladin, the strong local know-how is crucial, as the company plans to integrate and tailor existing and newly developed technologies for larger, advanced systems. One of the company's main goals is to take an active role in Finnish and European research and development collaboration.

In June 2017, Paladin announced the establishment of Kindhelm, specializing in high-accuracy navigation and positioning, as well as Pexraytech, which has a focus on X-ray devices. The founding of DynimLabs further supports Paladin's aim to run profitable and sustainable commercial enterprises that ultimately become leading companies in their respective fields.

More information

Markku Lehikoinen, Senior Advisor
Business Finland, Invest in Finland
markku.lehikoinen(at)businessfinland.fi
mobile +358 (0)40 504 4390

Tommi Matila, Research Manager
DynimLabs
tommi.matila(at)dynimlabs.com
mobile: +358 (0)40 577 2420

Janne Mustonen, Key Account Director / ICT and NANO
BusinessOulu
janne.mustonen(at)businessoulu.com
mobile: +358 (0)45 675 2929

Hetta Huittinen, Communications Manager
Business Finland
hetta.huittinen(at)businessfinland.fi
mobile: +358 (0)400 339 597

Invest in Finland, working as a part of Business Finland, assists international companies in finding business opportunities in Finland, produces information about Finland as an investment location as well as develops and coordinates the national FDI promotion work, networking actively with regional and international actors. Invest in Finland also compiles information about foreign-owned companies in Finland. www.investinfinland.fi

Business Finland is the Finnish innovation funding, trade, investment, and travel promotion organization, headquartered in Helsinki. Business Finland is fully owned by the Finnish Government. Business Finland employs 600 experts in 40 offices globally and in 20 regional offices around Finland. Business Finland is part of the Team Finland network. www.businessfinland.com

BusinessOulu supports its growing companies in creating jobs, promoting export, refining competences and developing different lines of business. The Invest In team and industry-specific account managers serve as your local guides to the business world in Oulu. www.businessoulu.com/en/