Sidus
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Native name | Sidus Moottoriyhtiö |
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| ISIN | VLSE: SDUS |
| Industry | Conglomerate |
| Founded | Vuornaa, Valkea (23 August 1948) |
| Founder | Heimo Järvinen Mauri Miettinen |
| Headquarters | Vuornaa , |
Area served | Worldwide |
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Sidus Motor Company Oyj (Valkean: Sidus Moottoriyhtiö) is a Valkean multinational conglomerate mostly known for the manufacture of automobiles, motorcycles, and engines. As of 2018, Sidus is the largest Valkean motorcycle manufacturer since 1956 and the second largest Valkean automobile manufacturer after Valkean Industrial Consortium (VTK). Sidus is also one of the largest manufacturers of internal combustion engines.
Sidus Motor Company produces and sells automobiles and motorcycles under the Sidus brand as well as luxury cars under the JLC brand. Sidus also manufactures marine engines, personal watercraft, powersports equipment, and garden equipment. They also have been involved in other industrial fields such as robotics and aerospace.
History
In 1933, Heimo Järvinen founded the Järvinen Motor Company in the city of Novika. Based in a workshop employing 17 men, they manufactured limited-volume luxury cars such as the Model 10 coupe, Model 20 sedan, and Model 22 roadster. They also produced parts for military vehicles. However, differences between Järvinen and the board of management arose regarding the company's direction. He wanted to build people's cars for Valkeans, but his partners wanted to continue building luxury cars for the elite. Järvinen eventually departed from Järvinen Motor Company in 1945.
Shortly after his departure, his daughter, Stella, died from severe pneumonia. While he was putting away her things, he came across a pendant with a five-knotted star; a gift he had given to her when she was eight. The pendant would become the inspiration for Järvinen and his future company. In 1947 he moved to Vuornaa and met Mauri Miettinen, and together they founded Sidus Motor Company on 23 August 1948. The two would continue to head the company until they both stepped down in 1981.
Their first car models were the Model 100, a two-door roadster, and and the Model 105, a four-door passenger car; both of which went on sale to the public in September 1953. They were a success in the Valkean domestic market, selling a combined 50,000 units within the first year. In addition, they began building motorcycles such as the Sol and Proxima. Sidus then grew in a short time to become Astyria's largest motorcycle manufacturer by the 1960s. The Proxima is still being produced today, having reached its 100 millionth model milestone in 2015.
Over the next few decades, Sidus worked to expand its product line and its operations to other countries. The Sidus Model 145 became the first Sidus car to be exported to foreign markets. The year 1973 saw the company release the Sidus Corvus, a compact hatchback that passed strict emissions regulations without the use of a catalytic converter. In 1984, Sidus bought a majority stake in Järvinen Motor Company, which was rebranded as Järvinen Luxury Cars. And in 1989, the company introduced the Sidus Zodiac, a supercar built with an all-aluminum monocoque chassis and a mid-engined V6 with variable timing technology.
However, the death of Heimo Järvinen sent shockwaves throughout the entire company. Sidus was beginning to lag behind other Valkean automakers, having been late to the SUV and pickup truck trend. In addition, there was speculation that Sidus may be bought up by VTK, which had just acquired competitors such as Juhola and Eloranta. To prevent this, then-CEO Antti Kivinen streamlined Sidus's product lineup, closed unprofitable factories, laid off thousands of workers, and ended its participation in Formula 1. At the time, many were shocked at these drastic measures, but then Sidus reversed its fortunes - in 1997, Sidus reported a loss of $768 million, while in 1998 it reported a profit of $1.1 billion.