Solidium working group submits report to Minister Paatero

The working group which assessed the role of the special assignment company Solidium Oy submitted its report on 6 May to Minister Sirpa Paatero who had appointed the working group. The group comprised experts from the Prime Minister’s Office, Ministry of Finance and Ministry of Employment and the Economy and was chaired by Director General Eero Heliövaara of the Prime Minister's Office.

The working group was assigned to assess, from the point of view of the state owner's interests, the strengths and weaknesses of Solidium's current operating practices and propose measures. The report studies the development of Solidium's shareholdings, annual revenues to the state and Solidium's position in government decision making. It also examines Solidium's ability to produce added value in target companies, its resources and efficiency and the national importance of its portfolio of company shares.

"The limited-liability company model of Solidium has proved to be a structurally viable solution for the management of the state's assets in companies. The original targets set for the structure have been fulfilled, though in parts not in an adequate proportion.  This is why the working group proposes that Solidium's rules of procedure be amended on the basis of proposals presented in the report and approved by the Cabinet Committee on Economic Policy to better meet the expectations set for the company by the state owner", says Director General Eero Heliövaara.

The report which includes the proposals for measures is available on the Prime Minister's Office website (in Finnish only).

"I would like to thank the working group for its comprehensive work. It was now necessary to examine thoroughly the development needs that had emerged in Solidium's operations during the years. The working group report gives a clear image of the strengths and weaknesses.  Even though this report was submitted to me as the minister who appointed the group, the next government will be in charge of making the comprehensive conclusions and decisions on Solidium's role and operating practices", says Sirpa Paatero, Minister responsible for ownership steering.

Inquiries: Valtteri Aaltonen, Adviser to the Minister, [email protected], tel. +358 50 462 6693 and Eero Heliövaara, Director General, [email protected], tel. +358 295 160 150, Prime Minister's Office