|
contents | business | |||||||||
| Pöyry acquires parts of business from Vattenfall Finnish engineering and consulting company Pöyry PLC and Vattenfall AB, Europe's fifth-largest electricity producer, have signed a sale and purchase agreement whereby Pöyry PLC acquires parts of the engineering consulting business of Vattenfall Power Consultant AB. The business, focusing on hydro power, wind power and power networks as well as thermal power, will be incorporated into a newly established company in Sweden to be called SwedPower AB. The services provided by SwedPower range from advisory services to engineering and project management. The business is focused on three sectors: hydro power, wind power, power networks as well as thermal power. The operations are primarily in the Nordic region with the main focus on Sweden. The company will employ a staff of approximately 360 persons, the majority of whom are located in Sweden. In 2010, these businesses generated pro forma net sales of SEK 480 million. The transaction is conditional to completion of a due diligence process, the agreement on transitional services and the final approvals of the Boards of Directors of Pöyry and Vattenfall. Completion is expected to take place at the latest by the end of June 2011. write your comments about the article :: © 2011 Construction News :: home page |