Meritaito Ltd, the leading Finnish marine survey service and infrastructure management company, has become a fully owned subsidiary of Arctia Ltd. The Finnish Government decided on the company reorganization on 13 December 2018. On account of the reorganization, the Board of Arctia Ltd. has appointed the current CFO Mr. Kim Höijer as Acting CEO as of 18 December 2018 until a new permanent President and CEO is appointed. Mr. Tero Vauraste has stepped down as President and CEO.

The Chairman of Arctia’s Board Mr. Pertti Saarela thanks Mr. Vauraste for his significant and long-lasting service as President and CEO of Arctia, as well as his remarkable contribution to Finnish industry and the maritime cluster. Mr. Vauraste will continue in his position as Chair of the Arctic Economic Council (AEC).