Tulikivi and Hagos eG enter into distribution agreement for the Kermansavi collection in Germany and Austria

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TULIKIVI CORPORATION, STOCK MARKET RELEASE JUNE 17, 2022 At 3:00 p.m. ET

Tulikivi signed an agreement with the German cooperative Hagos for the distribution of the Kermansavi collection in Germany and Austria. As part of its growth strategy, Tulikivi has updated its collection of Kermansavi ceramics to meet the demands of Central European export markets. Ceramic fireplaces, made of 80% recycled materials, now meet the requirements of Central European consumers in terms of design and use habits, as well as the emission and efficiency requirements of the new ecodesign directive. The agreement is of strategic importance as it opens an export channel for At Tulikivi’s ceramic products to one of the largest hearth markets in Europe. The German fireplace market is expected to develop favorably in the coming years due to legislation requiring old fireplaces to be replaced with new ones that meet new emissions regulations.

Founded in 1919, Hagos eG is a cooperative with a long tradition. It focuses on fireplaces and their accessories. It currently has approximately 1,400 owner members and over 3,000 customers. Hagos has a branch in Austria and nine branches in Germany. Hagos owner-members include chimney masons and specialist chimney shops. His turnover is over 200 million euros annually.

“The cooperation agreement we have now signed with the strong German partner provides full distribution channels in an important market area for the updated Kermansavi collection, which meets the requirements of the Ecodesign Directive. This will enable market share in the German stove market to grow in the coming years,” says Heikki Vauhkonengeneral manager of Tulikivi.

“We are very pleased with the trust placed in us and the opportunity to obtain the distribution of Tulikivi’s Kermansavi product line in Germany. As a medium-sized company, Hagos has been a successful cooperative in the fireplace business for over 100 years. Discussions with Tulikivi showed that the two companies have a common commitment to the development of the fireplace and wood heating sector. Kermansavi fireplaces are of very high quality, meet all the necessary technical requirements and complete our selection of products with their sleek design. Hagos is delighted with the expansion of the product range and Tulikivi will benefit from Hagos’ industry knowledge and market position Germany. It’s a classic win-win situation! said Ralph Tiggeschairman of Hagos eG, on the collaboration with Tulikivi.

TULIKIVI CORPORATION

board of directors

Further information : Heikki Vauhkonen, managing director, tel. +358 (0)207 636 555

Breakdown: Nasdaq Helsinki
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www.tulikivi.com

©OMX, source GlobeNewswire – EU Press Releases

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