Ecovis Global > Supporting Hydroline Oy in establishing a company and expanding in Poland
Supporting Hydroline Oy in establishing a company and expanding in Poland
27. January 2023
Hydroline Oy is a leading manufacturer of world-class heavy-duty hydraulic cylinders. The company started as family business in 1962 in Vuorela, Finland. Hydroline Oy’s customers include the most renowned machine and device manufacturers in mining, construction, agriculture, maintenance, load handling, forestry, hoisting, recycling, defense, energy and other industries.
In 2012, company decided to expand its operations abroad and to enter the Polish market. The same year, Hydroline Poland was established in Stargard. The first production facility had an area of around 4,000 sqm and production was launched in 2014. Thanks to dynamic growth, a new production facility was built in Stargard in 2019, three times as large as the original one. Last year, Hydroline Poland enjoyed 60% growth.
Hydroline became a client of Ecovis Legal Poland in 2012, needing a partner to support them in their expansion to Poland. Hydroline received a lead to contact Ecovis Legal Poland from one of Ecovis Legal Poland’s other Finnish clients.
“It has been a great pleasure working with the dedicated professionals at Ecovis Legal Poland. Their support has been vital for our successful growth in the Stargard factory. I can wholeheartedly recommend cooperation with Ecovis Legal Poland to any other companies planning to start operations in Poland, as a brownfield or greenfield investment”.
During the cooperation, which has lasted for more than 10 years now, Ecovis Legal Poland has supported Hydroline in many interesting and challenging projects.
Establishing the company, providing support and assistance with negotiations aimed at obtaining for the new company a decision on support under a new investment tax incentive scheme (CIT exemption based on the value of new investment);
Supporting the acquisition of a land plot for the production facility;
Drafting the general contractor agreement, project management contract and other legal documents in course of developing the facility;
Supporting the company with the implementation of local employment law;
Advising the company and leading negotiations in a sale and leaseback transaction involving the company’s real estate;
Advising the company and leading negotiations in a BTS (Build-to-Suit) lease agreement for the new production facility;
Providing the company with ongoing legal and tax advice during day-to-day operations, including restructuring of the company’s capitals and the tax aspects of such operations;
Acting as a trusted advisor on a range of strategic and operational matters.
Our successful cooperation continues and new challenging projects are expected soon.