STOCK EXCHANGE RELEASE 6 Jun 2011
Pöyry divests Oil and Gas business to increase focus
PÖYRY PLC Company Announcement 6 June 2011 at 9.00 a.m.
Pöyry PLC has sold the oil and gas competence line of its Energy business group to WS Atkins plc, UK. The total debt free sales price is EUR 17.25 million. Pöyry's outlook for the full year 2011 operating profit before one-offs will not be impacted by the divestment.
The transaction includes the shares of Pöyry Pty Ltd (Perth, Australia), Pöyry Energy Ltd (Aberdeen, UK), and Pöyry Energy A/S (Stavanger, Norway). The combined annual net sales of these units are approximately EUR 20 million, and they employ approximately 130 people. Pöyry Capital, the investment banking arm of Pöyry PLC acted as financial advisor on this transaction.
Active business portfolio management is one of Pöyry's strategic priorities to strengthen its competitive position in priority segments and geographies. Divestment of Oil and Gas business increases focus of the energy business around business areas where Pöyry has leading position, i.e. especially hydro power, thermal power and renewables and enables development of activities in those business areas where Pöyry has regionally solid position such as nuclear and Transmission & Distribution.
Additional information by:
Heikki Malinen, President and CEO
tel. +358 10 33 21307
Jukka Pahta, CFO
tel. +358 10 33 26088
Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7,000 experts and a local office network in about 50 countries. Pöyry's net sales in 2010 were EUR 682 million and the company's shares are quoted on the NASDAQ OMX Helsinki. (Pöyry PLC: POY1V).
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