ETTEPLAN ACQUIRED THE SHARE CAPITAL OF LCA ENGINEERING OY
Etteplan Oyj has today signed an agreement according to which the
company acquired the entire share capital of LCA Engineering Oy of
Kouvola, Finland. In 1993 established LCA Engineering Oy provides
process and plant design services for investment projects as well
as for machine and equipment manufacturers especially in the wood
processing industry. The company currently employs 37 persons.
The sellers are the management of the company from whom Etteplan
buys 100 % share of ownership and a corresponding share of voting
right in the company. The transaction is made partly in form of
share swap and partly in cash. Etteplan will prepare a share issue
for the contract price payment. Mr. Vesa Junttila, the Managing
Director of LCA Engineering Oy, Mr. Mikko Moisala, the Chief Design
Engineer of LCA Engineering Oy and the entire personnel continue
in their present position in their tasks in the company.
Within the past three years LCA Engineering Oy's net sales has
been annually on average EUR 3 million and the company's operation
has been profitable. The condition for the realization of the
contract is that in the financial position of LCA Engineering Oy
does not occur anything abnormal in the Due Diligence, performed
at a later date.
The signed agreement follows Etteplan's strategy, according to
which the company continuously develops its operations for its
customers' changing needs. The agreement will strengthen
Etteplan's position especially in wood-processing industry
projects as well as in investment projects in Russia.
Etteplan is one of the largest companies in the Nordic Countries
providing industrial technology design and expert services. The
company supplies high-quality services for its customers for
production and product development processes. The core areas of
expertise are mechanical engineering, automation design and
information design as well as software development, electronics
design and related laboratory and approval services. In 2005,
turnover of Etteplan Group was EUR 79.4 million. The company
employs close to 1 600 persons in Finland, Sweden, Germany,
Italy and China.
Hollola, 10 January, 2007
Board of Directors
For additional information, contact:
Etteplan Oyj, Vice President Risto Koivunen, tel. +358 400 649 656,
CEO Heikki Hornborg, tel. +358 400 873 063 or
LCA Engineering Oy, Managing Director Vesa Junttila,
tel. +358 400 657 971.
DISTRIBUTION: Helsinki Exchanges
Etteplan provides solutions for industrial equipment and plant engineering, software and embedded solutions, and technical documentation solutions to the world’s leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers’ products, services and engineering processes throughout the product life cycle. The results of Etteplan’s innovative engineering can be seen in numerous industrial solutions and everyday products.
In 2018, Etteplan had a turnover of approximately EUR 236 million. The company currently has more than 3,000 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com