PRESS RELEASE 14 Jan 2008
PÖYRY DIVESTS A SUBSIDIARY IN FRANCE
Pöyry has divested its French subsidiary Pöyry Energy (Strasbourg) SAS (previously SEEI S.A.S.) and sold its 100 per cent ownership in the company at a transaction price amounting to EUR 0.6 million. The company's annual net sales are about EUR 2.5 million and it is debt-free. As the effective date of divestment was 31 December, the company is not consolidated in Pöyry's 2007 balance sheet. The sale has a positive effect of about EUR 0.2 million on the Energy business group's profit for 2007.
The reason for the sale was that the company's profile and product portfolio is not in line with the current strategy of Pöyry's Energy business group.
Pöyry is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure & environment sectors. Pöyry's net sales in 2006 amounted to about EUR 620 million and it employs 7000 experts.
VP, Corporate Communications and IR
Additional information by:
Jean-Jacques Nyffenegger, President Renewable Energy, Energy Business Group, Zurich, Switzerland
Tel. +41 76 356 2058