Lappeenranta University of Technology (LUT) received a significant donation of shares for its fixed capital on the 14th March from Vartiainen family in Lappeenranta. The founder of Flowrox Corporation, Honorary Doctor of Science (Techology), Nuutti Vartiainen, donated 10 000 shares of Outotec Corporation and his children Katariina Aaltonen, Karoliina Kupias and Timo Vartiainen through their investment company Capillary Oy 30 000 shares of Outotec Corporation.
The total value of the donation is about 1.6 MEUR. State of Finland will pay the donated amount multiplied by 2.5, so that donation will increase the fixed capital of the university total by 5.6 MEUR. The deed of donation was given by Timo Vartiainen, Chairman of the Board of Flowrox Oy, and received by Rector of LUT, Ilkka Pöyhönen and Chairman of the Fund-raising Committee, Professor Markku Lukka.
- We have had successful co-operation with Lappeenranta University of Technology over thirty years. This co-operation also helped us to develop Flowrox as a global success story in solid and liquid separation. It feels that now is the right moment to reward the good partner for these achievements. Co-operation still continues, but now between the university and Flowrox Oy, tells Timo Vartiainen and continues that the family also wants as its part to ensure the positive development of the university in the future.
Rector Ilkka Pöyhönen is grateful for the donation given to the university. The donation is very positive sign of the strong valuation of the university’s research and education of skilled people among the main partners in business life. The given donation creates prerequisites for further strengthen the industry oriented emphasis in research in the area of separation technology and knowledge areas closely related into it.
Further information:
Flowrox Oy, Chairman of the Board, Timo Vartiainen, Tel. +358 (0)400 552 237, timo.vartiainen(at)larox.fi
Rector Ilkka Pöyhönen, ilkka.poyhonen(at)lut.fi, Tel. +358 (0)40 571 8970
Chairman of the Fund-raising Committee, markku.lukka(at)lut.fi, Tel. +358 (0)40 504 9411
Lappeenranta University of Technology has already since 1969 been combining two fields of science that complement each other – technology and business studies. The university's areas of strength include energy efficiency and the energy market, strategic management of business and technology, scientific computing and modelling of industrial processes and expertise in Russian business and industry related to the areas above. Total number of students is about 5 500 and staff amount total 1 000 at LUT.
