Pöyry Completes the Acquisition of parts of Engineering and Consulting Business From Vattenfall, Sweden
Helsinki, Finland, Jul 15, 2011 - Pöyry Plc has completed the acquisition of parts of the engineering consulting business of Vattenfall Power Consultant AB (see Company Announcement of April 14 2011). The business has been incorporated into a new company, SwedPower AB, in which Pöyry has 100 per cent shareholding. The parties have agreed not to disclose the purchase price.
According to the final agreement, the businesses transferred to SwedPower AB employ about 245 persons. SwedPower AB will be included in Pöyry's reporting as from 1 July 2011 and it is part of the Energy business group.
Active business portfolio management is one of Pöyry's strategic priorities to strengthen its competitive position in priority segments and geographies. The acquisition of SwedPower AB complements Pöyry's expert resources in windpower, networks, hydro power, thermal power and renewables, and opens major opportunities for common projects globally. It is a major step in growing Pöyry's energy business in Sweden and makes Sweden one of the core markets for Pöyry.
Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7,000 experts and a local office network in about 50 countries. Pöyry's net sales in 2010 were EUR 682 million and the company's shares are quoted on NASDAQ OMX Helsinki. (Pöyry PLC: POY1V).