Lauri Viitamäki founded the Terästakomo company in 1954 in the Viitala village of Ylistaro, where he started working as a village blacksmith in a workshop built adjacent to a smoke sauna. The first product introduced to the market was half-tracks for tractors. In 1959, the first firewood processor was introduced, and in 1962, the first wood-frame circular saw machine was introduced.

A forced generational change had taken place in the late 1970s, when Sisko and Jaakko Viitamäki followed in their father’s footsteps and took over the company’s management. In the early 1980s, the first hall was established in the Ylistaro town centre. Around the same time, the new SaKi firewood processor was introduced to the market. In the mid-1980s, cooperation with Kesko began, and forestry sector products were sold under the name Hakki. Agricultural products, such as potato harvesters, were called Esko. In the late 1980s, Hakki Electro firewood processors were also manufactured.

In the early 1990s, Terästakomo manufactured Rentukka and Ulpukka piers. In 2001, production was transferred to Tähtilaituri Oy. Cooperation with Kesko ended in 1992. A new partnership with Yrittäjän Maatalous began the following year, in 1993. It was also the year when the Palax brand was launched. In the mid-1990s, Palax began to make an impact on international markets, with exports to Norway, among others. A significant milestone was reached in 1996 when the Palax 600 Combi became the first firewood processor in the world to receive CE certification in Germany after passing the safety checks. The 600 Combi was the first firewood processor to be equipped with a safety net over the splitting chute for enhanced safety. In 1998, new firewood processor models were launched: Logsplit 60 and 40. Towards the end of the 1990s, the product range was narrowed down, focusing on firewood processors.

At the turn of the millennium, Palax products also evolved to fit into a new era. In the early 2000s, the last potato harvesters were manufactured, and the Palax Monster automatic firewood processor was introduced to the market. In 2003, the first firewood processor with a conveyor belt, the Power 70, was introduced. In 2004, the factory celebrated its 50th anniversary, coinciding with the completion of an expansion of the assembly hall. That same year, the Power 100 was launched, and a year later, the first semi-professional chainsaw machine, the KS35, was introduced. Also in the same year, cooperation with Hankkija began, which continues to this day. In 2007, there was a change in ownership, with Jari Löfroos taking over the operations. With the change in ownership came new opportunities, and more new products were introduced to the market: in 2009, the Power90, -10 KS50, -12 KS45, and -14 KS40. In 2014, Palax’s factory expanded with a new welding hall. With new machines and better resources, exports grew and expanded into new markets.

In 2020, Ylistaron Terästakomo Oy merged into TP Silva Oy, which is part of the Finnish conglomerate Terra Patris. With the merger, exports accelerated even further, and resources for firewood processor manufacturing expanded. In 2021, production of the 600 Combi product line, the first firewood processor to receive CE marking for safety, was discontinued. The last model bore the name C700 Combi. Today, Palax is known as one of the leading manufacturers of firewood processors and accessories, with users and importers worldwide. The current circular blade machines, C750, C900 and C1000, as well as chainsaw machines KS45, D410 and D360, are trusted partners for many professionals in the firewood industry. With pride from Ylistaro, Palax has manufactured over 100,000 Palax firewood processors and accessories for firewood production professionals in over 30 countries throughout its journey.