Traditions
Established in January 1894, Algol began as an agency business supplying Finnish industry with metals, industrial chemicals and building materials.
The modern counterparts of these still form an important part of the product range offered by the Algol Group today. The business philosophy was also familiar: according to historical documents, right from the start Algol was extremely focused on the quality of its products while emphasising the importance of appreciating individuals.
The agency business expanded into wholesale operations in the 1920s. The range of industrial products grew, warehousing operations were started, and Finnish products were added to the sales programme. In the 1930s, Algol was granted a licence to engage in the pharmacy supply trade.
Since the 1960s the central storage depot has been located in the Karamalmi area of Espoo, Finland. It was on this seven-hectare site that Algol also located its Head Office and technical trade operations in the late 1980s. The company began its own industrial production in the Herttoniemi district of Helsinki in the 1970s.
Today Algol has a leading position in the Finnish wholesale and distribution trade in a wide range of product areas. The Group's growth as a major supplier to industry, trade and the public sector has supported its development in three main business areas: raw materials and semi-finished goods; machinery and equipment; and healthcare products. Since the 1990s Algol has expanded its home market to include the Baltic countries, Scandinavia, Russia, Belarus and Ukraine. The restructuring of the Algol Group from the start of 2004 is aimed at clarifying the Group structure and strengthening competitiveness by further increasing specialisation in its core business areas. The restructured Group also emphasises strongly the growing importance of the service business.
Algol's development continues in this new millennium to be founded on its traditional and timeless values: quality, service and a solid partnership for the benefit of the customer. Timeless, too, is the white binary Algol star, which still today lightens the Northern sky.
