ETTEPLAN OYJ INVESTOR RELEASE APRIL 23, 2008, at 09:30 1 (1)
ETTEPLAN OYJ ACQUIRES THE ENTIRE SHARE CAPITAL OF ETECO OY
Etteplan Oyj has today signed an agreement to acquire the entire share capital
of Eteco Oy. In 1987 established Eteco Oy is specialized in calculation and
design services for pressurized equipment and pipe systems. The company employs
11 persons.
“The acquisition of Eteco Oy will strengthen Etteplan's position in providing
services for power plant suppliers. This acquisition complements Etteplan's
expertise in overall economic services,” says Matti Hyytiäinen, President and
CEO of Etteplan.
With the acquisition, Etteplan buys 100% of the shares and votes from the
company's owner Jari Helin. The entire sum is being paid in cash. The closing of
the transaction will take place by the end of June 2008. Mr. Jari Helin, the
Managing Director of Eteco Oy and the entire personnel will continue in their
present position in their tasks in the company.
Etteplan Oyj is an industrial technology design and technical information
service provider. Etteplan's customers are global leaders in their own fields.
In 2007, Etteplan had turnover of 125.2 million euros, and ca. 2,000 employees.
Hollola, 23 April 2008
Etteplan Oyj
Matti Hyytiäinen
President and CEO
For further information, please contact:
Matti Hyytiäinen, President and CEO of Etteplan Oyj, tel. +358 400 710 968
Jari Helin, Managing Director of Eteco Oy, tel. +358 500 630 996
DISTRIBUTION:
OMX Nordic Exchange Helsinki
Principle media
www.etteplan.com