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| Poyry expands its business in Russia Finnish consulting and engineering company Poyry Plc said on Tuesday that its Forest Industry business group has acquired 70 per cent of the shares of ZAO Giprobum Engineering, based in St. Petersburg. The company's net sales are about EUR 5 million and it has a staff of 260. The transaction includes an option to acquire the remaining 30 per cent of the shares during the first half of 2009. Giprobum Engineering has a leading position in its own business sector in Russia. Prior to its privatisation in 1990, Giprobum was for decades the leading government design institute developing the Russian forest industry. The company has designed and carried out most of the projects implemented in the Russian forest industry. In addition, the company has also developed and designed projects in the energy and infrastructure sectors. The services of Giprobum Engineering include investment studies, services related to permitting and agreements with authorities, various sectors of plant engineering, and construction management services. Giprobum Engineering has a wide clientele both in pulp and paper and mechanical wood industries in Russia, Ukraine, Belarus and several Eastern European countries. write your comments about the article :: © 2007 Construction News :: home page |