35 Years of Light – The Story of Tehdasvalo
In 2025, Tehdasvalo Oy celebrates its 35–year long journey. The path from our early days to where we are now has been marked by bold decisions, self-belief, and a genuine passion for entrepreneurship and lighting. Harri Koivumäki, the founder of Tehdasvalo Oy, continues to serve as CEO and has led the company to the present day. The history does include big risks, challenges and uncertainties, but during the toughest times, the greatest innovations have also been born.
“Graceful bankruptcy” and Through the Challenges
According to Harri, the spark to start the company came from the customers who wanted a challenger to the dominant player in the domestic market. Stepping into a highly competitive field as a new entrepreneur was demanding and perhaps a bit daring. In addition to gaining support from the customers, Harri trusted his 20 years of experience in the industry, and so the company was founded in 1990 in Iittala.
The competitor certainly did not make it easy for a new player. Competition grew tougher and took on new forms, such as aggressive pricing. Harri chose to navigate the situation by focusing on Tehdasvalo’s strengths as a company: expertise in the field, attentive listening to customers, and delivering the best possible service. Customers stood by the small entrepreneur, and that is one of the reasons why we value our customers so greatly. From the very beginning, the company was built on long-term customer relationships that would last for decades.
With perseverance, honesty, and commitment to high product quality and durability, Tehdasvalo expanded into a reliable operator in the lighting industry.
The deep recession in the 1990s also took its toll on our new entrepreneur. Maintenance budgets at factories were frozen, and rising costs halted new construction projects.
Harri recalls how, during the nationwide banking crisis, the capital of foreign currency loans jumped overnight by 70 000 marks (former Finnish currency before the euro). This hit hard on Finnish entrepreneurs, forcing people to choose between their dreams and giving up. At Tehdasvalo, too, the road grew steeper, and even the accountant suggested calling it quits and declaring a “graceful bankruptcy”. Nowadays, Harri confesses, that bankruptcy was in fact uncomfortably close, but the belief in Tehdasvalo as a company was so strong that giving up was never really an option.
From Iittala to Imatra
The economy began to recover by the end of the decade. Tehdasvalo relocated to Imatra, where the company started to grow rapidly. Imatran Seudun Kehitysyhtiö, KEHY, invested in the company, enabling further product development and overall improvements. The confidence in Tehdasvalo strengthened, and the company was entrusted with larger projects. At the beginning of the 21st century, Tehdasvalo expanded abroad, and the first major projects took place at a paper mill in Sweden and a pulp mill in Uruguay.
The success of Tehdasvalo has always been built on persistence, a strong work ethic, and committed employees. The company has also had the privilege to grow into a family business. Since moving to Imatra, Tehdasvalo has gained several key personnel who are essential to the company today: Arja Koivumäki is responsible for financial administration, and Marko Valtonen works as our production manager, whose role has also broadened to include lighting design, sales, and product development. Both professionals with excessive expertise and dedication have become the cornerstones of Tehdasvalo throughout the years. Our dedicated workforce also includes team members Hanne Saari, our executive assistant, and production employee Mika Saarikivi, who have worked at the company for over a decade.
New Trends in Technology
In the 2010s, Tehdasvalo and the whole industry faced new challenges and major technological changes. LED technology replaced old techniques, and previous principles in lighting design were quickly outdated. However, Tehdasvalo as a company was quick to react and successfully combined its LED expertise with new technologies, staying ahead of the competition. Today, all products designed and manufactured at Tehdasvalo are based on LED technology.
The future of Tehdasvalo seems bright, though new challenges are certainly to be expected. The competition between the two main players has shifted to a field with many small companies. At Tehdasvalo, we believe that together, with perseverance and courage, any challenges can be overcome.
Over the past five years, the company's profits have increased significantly. Looking ahead, the goals at Tehdasvalo remain true to the company values: Upgrading customer service and developing new products. Both areas are in which the work is never truly finished. Tehdasvalo continues its journey towards the next decade with a bright mindset and exciting innovations on the way.
