ÅF acquires Swiss infrastructure company Edy Toscano AG
(Thomson Reuters ONE) -
For further information:
Roberto Gerosa, President International Division +41 56 483 12 04
Marta Tiberg, Head of Communication and Brand +46 73 072 70 48
Through the acquisition of Edy Toscano AG, a leading engineering consulting firm
in Switzerland, ÅF continues to deliver on its growth strategy.
The rapid growth of the ÅF Group continues. With the acquisition of Edy Toscano
in Switzerland, ÅF takes another important step in the implementation of its
growth strategy. ÅF's Swiss operations have until now been focused on the energy
sector. Through the acquisition of Edy Toscano, ÅF adds infrastructure in
Switzerland. When the acquisition is completed, ÅF will be one of the three
largest engineering consulting firm in Switzerland with more than 600 employees.
Edy Toscano AG is a leading engineering consulting firm within infrastructure in
Switzerland. The company has a revenue of MSEK 430 (2015) and more than 370
employees in 20 locations in Switzerland and three in Germany. The services
provided include planning, engineering and consulting services for tunnels,
roads, railways, traffic planning and environment, and more.
"Edy Toscano will increase our Swiss based business by 150 percent, making ÅF a
leading engineering consulting company in the Swiss market. We are very pleased
to achieve this position and to enter the important Swiss infrastructure sector.
Our infrastructure business has so far focused on Scandinavia and this
acquisition is part of our strategy to expand these operations to our other
markets," says Jonas Wiström, President and CEO of ÅF.
The acquisition will be finalised at the end of December 2016 and Edy Toscano AG
will be consolidated by the ÅF Group as of 31 December 2016. It is a condition
for completion of the acquisition that owners representing 90 percent of the
shares approve the transaction.
Corporate Communication
ÅF AB (publ)
ÅF is an engineering and consulting company for the energy, industrial and
infrastructure markets, creating progress for our clients since 1895. By
connecting technologies, we provide profitable, innovative and sustainable
solutions to shape the future and improve people's lives. Building on our
strong base in Europe, our business and clients are found all over the world.
ÅF - Innovation by experience
Press release (PDF):
http://hugin.info/1253/R/2063716/774489.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ÅF AB via GlobeNewswire
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