Poyry focuses on renewables
7 June 2011Finnish consulting and engineering company Poyry announced yesterday that it had sold off the oil and gas business of the energy segment of its business to WS Atkins for a debt free total sales price of EUR 17.25M (USD 25.28M).
“Divestment of oil and gas business increases the focus of Poyry’s energy business on areas where Poyry has a leading position,” said a Poyry spokesperson. “This is especially in hydropower, thermal power and renewables.”
The sale included Poyry teams based in Perth, Australia; Aberdeen, UK and in Stavanger, Norway. Poyry announced the combined price for these was around EUR 20M (USD 29.3M).
A Poyry spokesperson said that the company’s 2011 operating profit outlook will be unaffected by the move.
