STOCK EXCHANGE RELEASE 29 Jun 1999
JAAKKO PÖYRY GROUP STRENGTHENS ITS POSITION IN INFRASTRUCTURE AND ENVIRONMENT
Soil and Water Ltd, which is a member of the Jaakko Pöyry Group, on June 29, 1999 acquired the entire share capital of Oy Suoraplan Ltd, a company specialising in the engineering of underground spaces, traffic tunnels, bridges and harbour structures. Oy Suoraplan Ltd's net sales for 1999 are estimated at EUR 0.7 million.
The acquisition strengthens Soil and Water Ltd's position in the engineering of rock caverns, traffic tunnels and other underground spaces. The company's former owners, Kari Sorjonen, Leo Sorjonen and Tapani Leinonen, and the rest of its staff will continue in its employment. At the same time, the company will co-operate internationally with Electrowatt Engineering, a Swiss subsidiary of the Jaakko Pöyry Group specialising in tunnel engineering projects. Soil and Water Ltd's and Oy Suoraplan Ltd's first joint project is concerned with general engineering services for the Centre Tunnel project of the City of Helsinki.
The acquisition includes GT-Geotieto Oy, a company 80% owned by Oy Suoraplan Ltd. It is known as a specialist in preparing engineering instructions e.g. for road and railway projects. The company is at present involved in the preparation of engineering and construction instructions for railway tunnels, quality guidelines for railway earthworks and engineering instructions for road tunnels.
JAAKKO PÖYRY GROUP OYJ
Additional information by:
Mr. Jukka Noponen, President Soil and Water Ltd.
tel: +358 9 8947 6400, +358 40 5874 323
Mr. Kari Ruohonen, Senior Vice President Geotechnical and Bridge Engineering Soil and Water Ltd.
tel: +358 8947 6530, +358 40 504 5170