STOCK EXCHANGE RELEASE 12 Oct 2011
Pöyry Oyj: Pöyry increases focus on emerging markets and realigns structure
PÖYRY PLC Company Announcement 12 October 2011 at 9.00 a.m.
- Pöyry's presence in the growing Asian markets will be strengthened by a dedicated Asian operations unit.
- Business group structure will be realigned by combining Water & Environment and Urban & Mobility business groups into new Urban business group.
To strengthen Pöyry's presence in Asia and accelerate business development Andy Goodwin, currently Executive Vice President and President of the Urban & Mobility business group, has been appointed President, Asian operations and will transfer to Pöyry Group's Thailand office in Bangkok. He will continue in Pöyry's Group Executive Committee and will report to CEO Heikki Malinen.
Following the on-going strategic review the decision has also been taken to merge Water & Environment business group and Urban & Mobility business groups in order to improve competitiveness and better capture synergies across engineering units serving mainly the public sector. Martin Bachmann, currently Executive Vice President and President of the Water & Environment business group, has been appointed President of the new Urban business group.
The new business group structure and the appointments will come into effect as of 1 January 2012. Pöyry's periodic reporting for Q1 2012 will be prepared and presented based on the new business group structure. Pro forma figures for the new business group structure covering 2011 will be submitted in connection with the financial statement release for 2011.
Heikki Malinen, CEO:
"The long-term outlook for investments in emerging markets is robust. Asia's share of Pöyry's total business needs to be further increased. To accelerate business development to Asian clientele we will increase senior management presence in the area. Our target is to focus on sales of owners' and contractors' engineering, EPCM and EPC projects. Andy Goodwin, who has a comprehensive understanding of Pöyry's businesses and offerings and has worked in Asia earlier in his career will lead the accelerated business development effort.
We continue our strategic review to develop new solutions to improve competitiveness of our public sector engineering businesses. As part of this effort we will combine the Water & Environment and Urban & Mobility business groups under one management team. Martin Bachmann, who has a 15 year career with Pöyry serving clients in the public sector, will take the lead in driving for improved performance."
Additional information from:
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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