ETTEPLAN CONTINUES TO INVEST IN TECHNICAL INFORMATION SERVICES
Etteplan Oyj has today signed an agreement according to which the company has
increased its ownership in Etteplan Technical Information Oy from 70% to 100%.
In 1998 established Etteplan Technical Information Oy provides comprehensive
solutions for technical information. Company's operations as part of Etteplan
Group have grown significantly and among other things the number of personnel
has grown approximately to double from year 2005. The company currently employs
around 150 specialists.
”Technical information has developed into an essential part of our comprehensive
design services. Through the Etteplan technical information services our
customers are able to maximize the quality and usability of their product
information to all user groups in all applications” says Matti Hyytiäinen,
President and CEO of Etteplan.
With today signed contract Etteplan buys from the management of the company 30%
share of ownership and corresponding share of voting right in the company. 60%
of the EUR 3.7 million purchase price is paid with cash and 40% with the
Etteplan shares in the company's possession. The management of the company and
the entire personnel continue in their present position in the company.
The purchase is executed according to terms of the contract made on October 3,
2005 but earlier than the agreed time schedule. The purchase price for the
entire share capital will sum up to EUR 6.8 million.
Etteplan is one of the leading industrial technology specialists in its field.
The company provides high-quality services for its customers' product
development and production processes and offers comprehensive solutions for
technical information. The company enjoyed a turnover of 101.7 million euros in
2006, and it employs more than 2,000 people. Etteplan's revenue for the first
third quarters in 2007 was EUR 92.4 million and operating profit EUR 9.3
million.
Hollola; January 16, 2008
Etteplan Oyj
Board of Directors
More information is available from
Matti Hyytiäinen, President and CEO of Etteplan Oyj (tel. +358 400 710 968).
DISTRIBUTION:
OMX Nordic Exchange Helsinki
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www.etteplan.com