PRESS RELEASE 11 Jan 2005
JAAKKO PÖYRY GROUP EXPANDS ITS CONSTRUCTION MANAGEMENT CONSULTING OPERATIONS
Jaakko Pöyry Group Oyj has acquired a 100 per cent shareholding in the Finnish construction management consulting company CMC-Yhtiöt Oy and its subsidiaries (CMC-yhtiöt) at the end of December 2004.
The net sales of CMC-yhtiöt amount to about EUR 5 million and it has a staff of 70. The company has offices in Helsinki, Jyväskylä, Tallinn, Riga and Vilnius. Major recent construction management assignments include sports arenas and shopping centres in Finland, the Baltic countries and Russia, upgrading of the Savo and Karjala railway lines in Finland, and the Peijas hospital, also in Finland.
JP-Terasto Oy, which is a part of the Jaakko Pöyry Group's Infrastructure & Environment business group, is also active in the construction management consulting field. The operations of CMC-yhtiöt and JP-Terasto will be integrated in 2005. The new company will be the biggest and most international Finnish construction management consulting company with an extensive office network in Finland, the Baltic countries and Russia. The name of the new company will be CMC Terasto Oy. At the time of the merger, CMC Terasto Oy has a staff of about 250 experts, including subconsultants. Invoicing will amount to about EUR 20 million in 2005.
The Jaakko Pöyry Group's Infrastructure & Environment business group uses the brand name Jaakko Pöyry Infra. Its net sales for 2003 were EUR 139 million. The business group has offices in 15 countries and employs 1700 experts worldwide.
JAAKKO PÖYRY GROUP OYJ
Deputy to President and CEO
Additional information by:
Sointu Rajakallio, President, JP-Terasto Oy
tel. +358 09 8947 3950, +358 400 442 255
Juha Kokkila, President, CMC-Yhtiöt Oy
tel. +358 9 3505 0440, +358 400 456 597