PRESS RELEASE 27 Aug 2007
PÖYRY EXPANDS ITS ENERGY MANAGAMENT CONSULTING PORTFOLIO BY ACQUIRING NORWEGIAN ECON
Pöyry has expanded its management consulting services portfolio and market presence for the energy industry by acquiring ECON Analyse AS, Norway. The company's main operational bases are in Oslo and Stavanger, Norway, Stockholm, Sweden and Copenhagen, Denmark, and it is well-established in all of its markets. Following the transaction, Pöyry further strengthens its position as the leading energy management consultant in Europe, employing 250 experts. The closure of the transaction is subject to approval by the competition authorities.
Founded in 1986, ECON is a leading Nordic economic consulting firm, providing research, analysis and strategic advice relating to the interaction of markets and policies. In addition to consulting assignments, ECON offers a set of subscription services related to energy and carbon markets, manages multi-client and scenario studies, and arranges discussion forums where policy makers and industry leaders meet. The company's net sales in 2006 amounted to EUR 13 million and it employs 85 experts.
Following the acquisition Pöyry's energy consulting activities cover the integral business process of the energy sector. Pöyry offers a range of services from strategy to business operation, including financing & valuation and sustainability. ECON's entire business will be continued and its senior management and key resources will take leading positions within the energy consulting business in Pöyry. ECON Analyse AS will be consolidated into Pöyry as of September 1, 2007.
Auke Lont, Managing Director of ECON, says of the joining of forces: "We believe that the new ownership structure will enable us to develop ECON further. We will become part of a globally operating knowledge network and get access to first class technical competence. This will create new opportunities and improve the quality of our existing services. Through this alliance we will be able to maintain and expand our entire business in both the public and the private sector as we broaden the scope and increase the depth of our offerings."
Kurt Bobst, President of the Management Consulting business area at Pöyry, comments: "I look forward to growing the business with the team of ECON. The two leading consulting companies will create the undisputed No. 1 consulting company in Europe for the energy market. Furthermore, we expand our position in the public sector and in major emerging markets. This joining of forces strengthens the existing relationships with our clients and we can deliver value across a wider portfolio of services."
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:
Richard Pinnock, President, Energy Business Group, Zurich, Switzerland
Tel. +41 76 356 2410
Teuvo Salminen, Deputy to President and CEO, Pöyry Plc
Tel. +358 10 33 22872, +358 400 420 285