SUMMER 2020 NEWSLETTER

UPCOMING EVENTS | NEWS | MARKET UPDATES | GREETINGS FROM CORPORATE MEMBERS

UPCOMING EVENTS

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NEWS 

UPONOR DISTRIBUTION CENTER NOW 100 PERCENT WIND-POWERED
In conjunction with Earth Day 2020, Uponor North America, a FACC-MN corporate member, is pleased to announce that its Lakeville, Minn., distribution center now receives 100 percent of its electrical power from wind energy, and is the first major manufacturing customer to participate in Dakota Electric Association’s Wellspring Renewable Energy program.

“Globally, Uponor’s sustainability platform is centered on four key areas: conserve water, reduce waste, improve energy efficiency and empower labor,” said Bill Gray, president of Uponor North America. “The milestone reached at our Lakeville facility is a leap toward achieving not only our goals for improving energy efficiency in North America, but also on a global scale.”

Uponor is committed to using 100 percent renewable resources to power its facilities globally by 2025.
Read more through this link. 

NEW FINNISH INNOVATION TO FIGHT THE PANDEMIC
Energy company Fortum joins forces with the biggest retail chain in Finland to fight the topical COVID-19 pandemic. Fortum Vipu, a sustainable hands-free door handle is created to prevent further spread of the virus.

Made out of Fortum Circo®, a versatile recycled raw material produced of consumer plastic packaging waste that is sorted and collected from Finnish households, the handle gives waste plastic a new life while protecting people. It’s a simple add-on to existing door handles, allowing people to open doors with their arm, minimizing touching the handles with their palms and fingers. Read the full article through this link.

TYLOHELO INTRODUCES NORTH AMERICA'S FIRST SAUNA CONTROL WITH WORLDWIDE MOBILE APP
The #1 most wished-for sauna feature is an app that can be controlled from anywhere by a smartphone. TyloHelo has announced its Finnleo SaunaLogic2 Control, North America’s first sauna control with worldwide mobile capabilities, is now safety listed with Finnleo’s popular Himalaya rock-tower heater and the classic Designer heater. With the SaunaLogic2 mobile app, an Apple and Android device becomes a second control. The control system is also ready for use with Siri, Alexa and Google Assistant.

Operating a sauna has never been easier and more relaxing. Keith Raisanen, TyloHelo President, says, “We are thrilled with the market response to our SaunaLogic2 control. The product development was very market driven as sauna enthusiasts have long wished for a way to operate their sauna from
anywhere.” Read more through this link.

FINNISH MOBILE GAME WINS WITH FIGHT AGAINST MISINFORMATION
Troll Factory, a mobile game developed by YLE News Lab, was named the best digital project targeted at younger or millennial audiences at European Digital Media Awards 2020.

The game tasks players with growing their influence on social media by spreading fake news and disinformation in an attempt to demonstrate how fake news, emotive content and bot armies are systematically utilized to mold public mood, opinion and decision-making on issues such as immigration.

“This is fantastic. The clear winner by far!” reads a press release from the European Digital Media Awards, a competition held annually by the World Association of Newspapers and News Publishers (WAN-IFRA). Read more through this link.

COVID-19 RESOURCE CONNECT
The Medical Alley Association, in conjunction with the Federal government, the Minnesota state government, and Medical Alley’s elite healthcare and health technology system, the Medical Alley Association is working to pair those who can provide high-need services and products to those who need those services and products. 

Please click this link to share with the Medical Alley Association if you are able to provide products or services to those in need, or if your organization is in need of products or services. Entries will be reviewed and matched with those in need with those offering to help.

MARKET UPDATES

INTERNATIONAL BUSINESS DEVELOPMENT DURING AND AFTER COVID-19 PANDEMIC
The world has changed very rapidly this year. COVID-19 pandemic has been affecting everyone from individuals to businesses, including business and employment models. In the US, many small businesses have been virtually eliminated. In smaller countries, such as Finland, which are more dependent on exports and access to outside markets, the pandemic created challenges for accessing those markets in addition to disrupting domestic economic activity. It looks more likely what no country will have a rapid economic recovery getting to the pre-pandemic levels quickly. So this is the situation at the macro level.

On the micro level, the picture is not all bleak, however. As a business advisor, I see a diverse picture, from businesses that have been severely affected by this economic downturn to businesses creating new business opportunities and expanding in these challenging times.

From my interactions with businesses considering the US market, it is quite clear that our market is still attractive to them. Perhaps, their plans are on hold but they are there. Same situation is with Minnesota businesses, they are still interested in the EU and Finnish markets. We do not have to look far. Some of our chamber’s members are examples of such expansion.

I believe that in times like these, the importance of organizations such as FACC-MN and connectors, who are our members, is greater than ever. Our chamber can help businesses to navigate the new reality, establish business relationships, and explore opportunities. We can connect Finnish businesses with wide variety of resources in Minnesota and beyond. We can also connect Minnesota businesses to resources in Finland and beyond. Our focus as a chamber is working for our members and assisting with their needs. We are here for you. 
- Mindas Juska, FACC-MN co-president

BETTER TIMES ARE COMING
I consider myself fortunate to have worked with many of you while I was at Deco Catering, and I enjoyed celebrating with those who attended the Pikku Joulu.  Before I started working at Deco with my Mom, Soile Anderson, I worked for UBS.  While there, I managed money for large institutions from Scandinavia.  Since leaving Deco, I am now back doing what I truly love, which is helping individuals, families and companies set and reach their financial goals.

In the face of the devastating loss of human life and historically weak economic data, however, the S&P 500 Index has experienced one of its greatest short-term rallies ever, up more than 30% from the March 23 lows at its recent peak. Based on historical trends, a warranted correction in stocks over the coming months may be possible. Stock valuations are historically expensive, tensions are building between the United States and China, the stock market’s momentum is showing signs of waning, and we’re entering the historically weak summer months—all of these are reasons to be alert.

Securities and Advisory Services offered through LPL Financial, a Registered Investment Adviser. Member FINRA/SIPC. Read the full article through this link.
- Heikki O. Rouvinen, Financial Consultant, North Oaks Financial Services

GREETINGS FROM OUR CORPORATE MEMBERS

PUUSTELLI USA - FROM STARTUP TO SCALEUP
Puustelli USA opened its new showroom in the beautiful uptown location close to the lakes Bde Maka Ska and Lake of the Isles in 2017. While we celebrate our 5 th year in the USA, this year marks the 100-year anniversary for the Group back in Finland. We have now sold 400 kitchens locally which serves as a proof of concept. At this point we want to thank those numerous pioneers that have contributed to this success story so far. Opening a new market is probably never a linear line of growth and it hasn’t been that for Puustelli USA either. We just reconnected with a customer who said they are delighted daily when walking into their new kitchen they love! Starting something new is one of the most difficult things you can choose to do but stories like theirs keep us going.

Puustelli USA started as a general contractor providing turnkey remodeling projects. While it was a very important part of our path, this operation was scaled down in 2019 to make room for becoming a partner for Design Build companies wanting to incorporate Puustelli kitchens into their portfolio. As part of our strategy, we are now interviewing companies wanting to become regional Puustelli professionals and ambassadors. We want to be the best partner for those companies that share the same values and interested in providing sustainably built product with uncompromising design, functionality and quality.

We are very excited (or as a Finn would say, quite excited ;)) to turn the page to open our portfolio of next generation products and timeless design for partners to build their businesses on. We will be introducing our first Puustelli partners later this year and looking forward to expanding the local presence of Puustelli cabinetry.

Our showroom is open again, welcome to stop by for a freshly brewed cup of coffee!

EV CAPABLE OR EV READY - IT IS TIME TO THINK ABOUT ELECTRIC VEHICLE CHARGING
Our electric grid is becoming cleaner at an accelerating pace because Minnesota utilities are closing coal plants and transitioning to renewable energy. This provides an opportunity to drastically reduce our transportation energy consumption, air pollution, and climate gas emissions by shifting to electric vehicles (EVs).

Most EV charging happens overnight at home, so all residential properties including apartment buildings and condominiums will need to get EV ready. Fortunately, utility companies are stepping up their game and providing new EV charging programs for single family homes and multi-unit dwellings (MUDs.) There is also a 30% Federal tax credit for EV charging infrastructure installations, so it is a good time to make our properties EV ready. 

Jukka Kukkonen, Chief EV Educator for Shift2Electric and long-time FACC-MN member, is a local expert on EVs and charging infrastructure. Visit www.MUDCharging.com to learn more about Apartment Building and Condominium charging.

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