Pöyry divests French subsidiary - January 18, 2008
Posted on January 18th, 2008
Pöyry has divested its French subsidiary Pöyry Energy (Strasbourg) and sold its 100% ownership in the company for to €600,000 because the subsidiary’s profile and product portfolio is not in line with the current strategy of Pöyry’s Energy business group.
The company’s annual net sales are about €2.5 million and it is debt-free. As the effective date of divestment was 31 December, the company is not consolidated in Pöyry’s 2007 balance sheet.
The sale has a positive effect of about €200,000 on the energy business group’s profit for 2007.
Pöyry’s net sales in 2006 amounted to about €620 million.
Pöyry is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure and environment sectors.