Some Examples of Clients and Projects

Vonen Engineering and Pekka Savonen



Clientele of Vonen Engineering, S.L.

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Management Conculting - References


Quantronics Oy


Austin AI, LLC

Quantronics Oy was founded in 1995 to commercialize the research results of X-ray silicon detector technology developed in the University of Helsinki. The company had its roots in the research on silicon based x-ray detecting technologies done by the founder of the company, Mr. Panu Jalas, Ph.D. Further strength for the company has been gained from the new innovative X-Ray Spectroscopy analyzer programs developed at the Helsinki University Laboratory of Physics and at Quantronics. Several development projects have been run for industrial partners or major x-ray or particle accelerator laboratories.

Since 1997 Quantronics provided new innovative software for x-ray analysis and introduced XRF based analysis instruments. The proprietary x-ray technology makes it possible to realize material quality control and automation systems on a new level of ease-of-use, speed and accuracy.

Type of cooperation

Business Plan development in cooperation with the entrepreneur. The Business Plan was prepared for the purpose of a MERGER with NITON BDC (Austin, Texas, U.S.A.) to form Austin AI, LLC. The merger was fulfilled in 2003. According to the entrepreneur, Ph.D. Panu Jalas, the preparation of the Business Plan was essential for the realization of the merger. Also, the plan was an important tool for the valuation and pricing of the company.


Business Plans for Mining Companies


Endomines Oy

Preparation of Business Plans for investors and to facilitate Initial Public Offering IPO.


Kalvinit Oy

Preparation of Business Plans for investors


The Eka Co-operative

The Eka Co-Operative was among the four (4) largest companies in Finland. The later Tradeka named company had several
subsidiaries in different fields of trade and industry. This was the biggest Finnish case of "US Chapter 11" type insolvency. Client: Lawyers in charge of the troubled co-operative and administrators of the liquidation proceedings at the 

Hannes Snellman Attorneys at law.


Attorneys at law Borenius & Kemppinen

Type of cooperation

Action for Recovery in the Helsinki Municipal Court. 

Expert Opinion.

Mr. P.Savonen has presented, in the Helsinki Municipal Court, his third party opinion evaluating, whether commercial banks and other financiers of the Eka Co-operative should have seen beforehand the financial troubles expecting the co-operative. The work included estimations of the analyzing procedures of the commercial banks.

The Eka Co-operative was the fifth largest company in Finland.

Description of the analysis work: Evaluation of the state of solvency - insolvency and cash flows of the co-operative and subsidiaries during the years before the start of "US Chapter 11" type bankruptcy prevention -procedure. Divisions/Subsidiaries analyzed: Haka Oy (construction), Renlund Oy (retailer/tools and materials for construction industry), Restel Oy (hotels and restaurants), Tradeka (retail/consumer goods), Trendor Oy and the Parent Co-Operative.


The TietoEnator Group

TietoEnator is one of Europe's leading IT services providers offering value-added
expert service for selected industry sectors.

Type of cooperation

Analyses of TietoEnator's major customer industry sectors, like the telecom and postal operators, in the Northern and Central European countries. Analyses cover the estimates of the future prospects for success of the operators in the customer industry sectors. The most potential and interesting operators.


Enterprise Fennia Mutual Insurance Company

Type of cooperation

Evaluations of the financial status and future profitability of the most important
(in several fields of industries and trade).

Companies Analyzed, Among Others:

Huber Oy
Darecon Oy

Darepro Oy


The United Bankers group

and Other Stock Brokers and Investment Bankers 

Type of cooperation

Fundamental Analyses of Nordic listed companies. Estimated share
price development. The Intrinsic Value of the share.

Companies analyzed: 

The Amer Group Ltd. (owner of e.g. Wilson, Salomon and
Atomic brand names, Finland);

Bilspedition Transport & Logistics (BTL) Ab, Sweden (acquired by
the Schenker Group);

Cultor Oyj (high-performance nutrition products, acquired by
the the Danish Danisco Group);

Finnlines Oy (sea transport);

Finvest Oy;

The Jaakko Pöyry Group (world's leading consulting/engineering company in the fields of forestry and energy, Finland);

The Mandatum Bank Plc;

Oy Partek Ab (manufacturer of Sisu and Kalmar container handling
systems and Valtra tractors, acquired by the Kone Group)

Tamrock Oy (manufacturer of drilling, borring and
tunneling machinery for mining and construction industries, acquired
by the the Sandvik Group, Sweden),

The Metso Corporation (world's largest paper making line and
rock / mineral processing equipment supplier),

The Elcoteq Network Corporation (the leading European electronics
contract manufacturing company),

The Suunto Corporation (diving and water sports, hiking, outdoor
products, acquired by the Amer Group),

Telia and Sonera (Sweden&Finland, before the merger).


The SSP -bank group

(Later merged to Finnish commercial banks, the Merita-Nordbanken Group, among others)

Turun Suomalainen Säästöpankki (A former local savings bank in the Turku area):

Type of cooperation

Financial Analysis of companies in the fields of manufacturing, construction and trade. 

Companies Analyzed, Among Others:

Auramotor Oy

Haka-Kone Oy

Konepaja Grönroos Oy

Master Finance


Other projects for the SSP-bank Group included
Analyses of the viability of the business of client companies.
Financial Analysis, evaluations of needs for
development and prospects for future success.

Member of the Board of Directors as representative of the bank. Reporting to the
directors of the bank. Analysis of the markets and competitors.

Other local savings banks:

Financial analysis of companies in fields of transportation and construction, car
resellers for valuation and acquisition purposes.

Companies Analyzed, Among Others:

Kerman Savi Oy


PMJ automec Oyj (Now: Cencorp)

Type of cooperation

The company manufactures automatic systems for odd component handling for
manufacturers in electronics industry, eg. Nokia Mobile Phones. Financial analysis
reports to be handed to banks for project financing well before IPO.



We look forward to your contact:          

Pekka Savonen, managing director

Vonen Engineering, S.L.

C/ Padilla, 57, 1 A Izq.

28006 MADRID




Phone: (+34)  626 961 443