n 1994, the world witnessed transformative changes, including the agreement on the European Economic Area and the rise of commercial internet. Concurrently, using composites had started trending in public transportation, and a pioneering Finnish company was launched. Enter the story of LICO, the leading system supplier of composite solutions for the transport industry.
LICO’s story began on 17th September 1994 in Järvenpää, Finland, first under the name EC Engineering. The company was founded by Tapio Ollanketo, who successfully led it for over 20 years. Its first clients were Škoda Transtech, which manufactures train cars for VR, a government-owned railway company in Finland, and a bus manufacturer, Lahden Autokorit, currently operating under the Scania brand.
“At that time, Finnish train and bus fleets were rapidly modernized using composites, setting prime examples in their industries. Škoda Transtech and Scania are still our clients,” says Arto Pitkämö, CEO of LICO.
From a local to global contract manufacturer of composites
In the early 90s, many similar companies were launched in Finland, just after the country’s recent recession. EC Engineering stood out as a winner, steadily expanding through acquisitions. In addition to serving road and railway industries, marine and special vehicle manufacturers soon joined the global trend of using composites. In 1997, the company moved to Jalasjärvi and in 2004 to Koskenkorva, where more labour was available. The growing company had started to interest investors.
“In 2017, Pikespo Invest became our minority shareholder. A year later, we bought another competitor, Joptek Oy Composites, from Lieksa, Finland, whose operations were later moved to Kurikka. In 2019, Pikespo Invest increased its ownership to over 80%,” tells Pitkämö.
Entrepreneur spirit, local presence and a culture for well-being
Surprisingly, the company soon returned to its entrepreneurial roots. Currently, the operative management owns 60% of LICO and a local serial entrepreneur 40%. In 2020, Arto Pitkämö started as the CEO.
“In the spring of 2021, we renamed the company LICO, referring to lightweight composites. We wanted to renew the brand to fit the global market better and differentiate as a contract manufacturer. Furthermore, a Polish competitor had blatantly copied our previous name,” Pitkämö laughs.
Today, LICO is headquartered in Kurikka, and most of the production takes place in Koskenkorva. The units employ a total of 40–70 composite manufacturing and engineering professionals. The company is actively involved in the local communities, supporting sports clubs and youth sports and sponsoring world-class athletes such as Jonni Mukkala. LICO also supports the well-being of its employees, for example, by offering exercise benefits, and became a smoke-free workplace in 2023.
“I am happy that LICO has become a healthy company that builds success also for the local communities. First and foremost, I’d like to thank our customers and skilled and committed personnel, whose expertise and understanding are our most important success factors. Many of us have worked at Lico for over 20 years, which is amazing,” Pitkämö highlights.
A sustainable future is built together
The EU’s environmental objectives — including emissions trading in transport, cutting greenhouse gas emissions, and becoming the first climate-neutral continent — write a new chapter in the company’s growth story. As the world of mobility travels towards a greener future, LICO sets an example of how composites promote sustainability and design freedom on land and sea. Concurrently, lightweight, non-flammable, and non-conductive composite structures and advanced reinforced plastics help meet future demands in the electrifying vehicle industry.
The core of the product development at LICO is its close cooperation with the partners and customers. For example, the company develops eco-friendly, bio-based flax and hemp fiber materials, collaborating with Tampere University and material suppliers. Furthermore, Pitkämö emphasizes that even a small country can make a significant impact by working together:
“We have a great deal of composite expertise in Finland, but unfortunately, it is fragmented. Finnish companies and professionals must collaborate and find synergies to move from small-scale production to larger volumes. I challenge everyone in our industry to join in these efforts.”
Contact us for more information:
Arto Pitkämö
CEO, Sales and Marketing
+358 400 917 282
arto.pitkamo@lico.fi