STOCK EXCHANGE RELEASE 14 Jun 2010
Pöyry reinforces its nuclear power segment by acquiring Hungarian company with EUR 12 million net sales
PÖYRY PLC Company Announcement 14 June 2010 at 2.30 p.m.
Pöyry has acquired 97.8 per cent of the shares of ETV-Eröterv, the largest privately owned power sector consulting engineering company in Hungary, from its management. ETV's product range comprises nuclear and conventional power plant engineering, services for radioactive waste related projects as well as full scale designing services in the area of transmission and distribution. ETV's net sales in 2009 amounted to approximately EUR 12 million and it has 170 employees. ETV's balance sheet will be included in Pöyry's reporting as of 30 June 2010. The parties have agreed not to disclose the transaction price.
"There is a very good strategic fit between Pöyry's Energy business group and ETV. Pöyry's existing nuclear consulting engineering network will be enhanced with ETV's profound knowledge of the Russian nuclear power plant technology which expands Pöyry's abilities to cover all major nuclear reactor technologies. Together with ETV, Pöyry will have a staff of 400 providing consulting and engineering services for the sector. With the complementary T&D expertise ETV will become Pöyry's platform for various services in Eastern Europe and a strong hub for Pöyry's energy sector activities in other countries of this area", comments Ari Asikainen, President, Energy business group, Pöyry.
Pöyry is one of the world's leading independent engineering consultants in the nuclear sector where its services cover the entire lifecycle and all relevant aspects of nuclear energy, i.e. from early development phases to construction, operation, decommissioning and spent fuel disposal. The low life-cycle emissions of CO2 make nuclear power an increasingly viable alternative in the global energy production mix. Pöyry estimates that approximately 150 nuclear power plants are currently planned and promoted in the world. Pöyry is actively enhancing its capabilities to be well positioned to serve the growing nuclear sector.
Additional information by:
Ari Asikainen, President, Energy business group, Pöyry PLC, Finland
Tel. +358 10 33 24476
Philipp Elkuch, President, Business area Nuclear, Transmission & Distribution, Energy business group, Switzerland
Tel. +41 44 355 55 54
Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC, Finland
Tel. +358 10 33 23002
Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).
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