PRESS RELEASE 31 Mar 2006
PÖYRY EXPANDS OPERATIONS IN CHINA
Pöyry's Forest Industry business group has formed a joint venture with the Shandong Light Industry Design Institute to execute detail engineering services in China. The joint venture, Pöyry Shandong Engineering Consulting Co. Ltd, will be 70 per cent owned by Pöyry. The company is located in Jinan, Shandong Province in eastern China, and will have staff of approximately 100 Chinese engineering and support personnel.
The joint venture will primarily serve the Forest Industry business group, but the unit will also have the capability to execute design engineering projects for the other Pöyry business groups.
Shandong is the province with largest paper and board production in China, with a production of approximately 10 million tons in 2005. It is the location of a number of international forest industry companies, as well as major Chinese paper and board producers.
This is a major step for Pöyry in the establishment of a local engineering presence in China, building on the existing operations in Shanghai and Beijing.
Pöyry is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure & environment sectors. Pöyry's annual net sales amount to about EUR 530 million and it employs 5600 experts.
JAAKKO PÖYRY GROUP OYJ
Investor Relations Manager
Additional information by:
David Walker, President, JP Management Consulting (Asia-Pacific) Pty Ltd
tel. +65 6733 3331, +65 9672 4922
Jukka Nyrölä, President, Forest Industry Business Group, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2010, +358 40 500 9706