FINNFUND INVESTS IN DOVRE GROUP’S ASSOCIATE COMPANY SARARASA
9/3/2012 4:45 AM EST
Dovre Group Plc
Investor News
FINNFUND INVESTS IN DOVRE GROUP’S ASSOCIATE COMPANY SARARASA
Espoo, Finland, 2012-09-03 10:45 CEST (GLOBE NEWSWIRE) --
Dovre Group Plc Press Release
September 3, 2012 at 11:45 am
FINNFUND INVESTS IN DOVRE GROUP’S ASSOCIATE COMPANY SARARASA
Dovre Group’s associate company SaraRasa Bioindo Pte. Ltd., a Singaporean
renewable energy firm, has agreed a financing round of USD 2.5 million with the
Finnish Fund for Industrial Development Cooperation Ltd. (“Finnfund”).
Finnfund’s investment consists of an equity stake and a loan. SaraRasa Bioindo
is a pellet producer using sustainable waste materials with its first
processing plant under construction in Indonesia.
“We are pleased to have Finnfund as a co-investor in SaraRasa Bioindo,” says
Janne Mielck, CEO of Dovre Group. “Finnfund is a valuable partner for SaraRasa
Bioindo due to its extensive experience in financing businesses with high
sustainability and responsibility criteria and located in developing countries.
Finnfund’s investment in SaraRasa Bioindo is very encouraging for Dovre Group
as well. The construction project is proceeding according to schedule, and with
Finnfund’s investment has even stronger financial capability to implement its
profitable growth strategy. “
“SaraRasa Bioindo is an excellent investment target for us,” says Hanna
Skelly, Associate Director in charge of Forestry, Environment, and Renewable
Energy investments at Finnfund. “We have confidence both in the SaraRasa
Bioindo’s management team and its shareholders. The project converts waste into
renewable energy and is fully in line with Finnfund’s core strategy of
supporting environmental investment projects involving Finnish partners in
developing countries.”
For further information, please contact:
Dovre Group Plc
Janne Mielck, CEO
Tel. +358 (0)20 436 2000
www.dovregroup.com
Finnfund
Hanna Skelly, Associate Director
Tel. +358 (0)9 3484 3326
www.finnfund.fi
Dovre Group is a global provider of project management services and software.
Dovre Group consists of three divisions: Project Personnel, Consulting, and
Software. In 2011, the Group’s net sales were EUR 73 million. Dovre Group
employs over 400 people worldwide. Dovre Group is listed on the NASDAQ OMX
Helsinki (symbol: DOV1V).
Finnish Fund for Industrial Development Cooperation Ltd. (Finnfund) is a
Finnish development finance company that provides long-term investment loans
and risk capital for private projects in developing countries and Russia.
Founded in 1980, Finnfund is owned by the State of Finland, Finnvera, and
Confederation of Finnish Industries. Finnfund is a member of European
Development Finance Institutions (EDFI).
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