Pöyry sharpens its focus in Finland by divesting significant parts of its Finnish real estate design & consulting and construction management businesses
PÖYRY PLC Company Announcement 22 April 2014 at 10:00 a.m.
Pöyry is divesting significant parts of its real estate design and consulting business, and its construction management business for the real estate and infrastructure sectors in Finland to Ramboll Finland Oy. The transaction is in direct alignment with Pöyry's focused strategy, where Pöyry is developing its services in key domestic markets, as well as strengthening its global competences in energy, industry and management consulting.
The Parties have agreed not to disclose the transaction price. The closing of the transaction is subject to the approval of the Finnish competition authorities.
The transaction includes Pöyry's real estate design and consulting business in Pöyry Finland Oy, comprising activities in real estate consulting, related Heating, Ventilation, Air Conditioning (HVAC) and electrical engineering for buildings, as well as urban & regional planning. The transaction also includes Pöyry CM Oy which conducts construction and project management services for the real estate and infrastructure sectors, and its Russian affiliate Pöyry LLC, which mainly includes real estate-related construction management activities.
The total combined annual net sales of the divested business was approximately EUR 44 million in 2013. As part of the transaction, around 435 people will transfer from Pöyry to Ramboll Finland Oy. Upon closing the transaction, it is anticipated that the company's net result will improve by approximately 16 million euros.
After the transaction Pöyry will employ around 1600 experts across Finland. Pöyry is the leading consulting and engineering company in Finland in its selected focus areas - industry, energy and infrastructure comprising transportation, water and environment.
Alexis Fries, President and CEO:
"Today's announced divestment in Finland will directly support our focused strategy. We are continuing to strengthen and develop our consulting and engineering expertise within our traditional areas of industry and energy global competence, and locally, providing selected infrastructure services to clients regionally and within our key countries.
We are pleased to have found in Ramboll a good match, securing a new home for this business and the talented team of professionals who make it success."
Additional Information:
Pasi Tolppanen, President, Regional Operations, Northern Europe & Managing Director, Pöyry Finland Oy
+358 10 33 26656
Jukka Pahta, CFO, Pöyry PLC
tel. +358 10 33 26088
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and locally in our core markets. We deliver strategic advisory and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation, water and real estate sectors. Pöyry has an extensive local office network employing about 6,500 experts. Pöyry's net sales in 2013 were EUR 650 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Main Media
www.poyry.com (http://www.poyry.com/)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire
