Pöyry divests parts of its water and environment operations
(Thomson Reuters ONE) -
PÖYRY PLC Company Announcement 2 March 2012 at 9.30 a.m.
Pöyry has agreed to sell parts of its water and environment operations to
Lahmeyer Holding GmbH. The agreement involves the sale of the entire share
capital of Pöyry Environment GmbH (Germany) and Pöyry Tanzania Ltd (Tanzania).
Both businesses carry out water and environment engineering services primarily
financed by Official Development Assistance (ODA) throughout the developing
world.
The combined annual net sales of these two units were approximately EUR 12
million in 2011 and they employ approximately 70 people. Pöyry will recognise a
loss of about EUR 5 million in the first quarter of 2012 on the transaction. The
transaction is cash flow positive.
Closing of the German transaction took place on 1.3.2012. Closing of the
Tanzanian transaction is subject to local competition authority approval and is
expected to take place during the second quarter of 2012. Both units will be
excluded from Pöyry's financial reporting as of 1 January 2012.
Pöyry Capital, the investment banking arm of Pöyry PLC, acted as financial
advisor to Pöyry on this transaction.
Additional information:
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,
transportation, water, environment and real estate. Pöyry has about 7,000
experts and a local office network in about 50 countries. Pöyry's net sales in
2011 were EUR 796 million and the company's shares are quoted on NASDAQ OMX
Helsinki (Pöyry PLC: POY1V).
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pöyry Oyj via Thomson Reuters ONE
[HUG#1590838]
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2012 - 08:31 Uhr
Sprache: Deutsch
News-ID 120999
Anzahl Zeichen: 2700
contact information:
Town:
Vantaa
Kategorie:
Business News
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