Etteplan acquires the entire share capital of Swedish ProAvia Konsult AB
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, JANUARY 9, 2014, AT 3:00 P.M.
ETTEPLAN ACQUIRES THE ENTIRE SHARE CAPITAL OF SWEDISH PROAVIA KONSULT AB
Etteplan Oyj has signed today an agreement to acquire the entire share capital of Swedish ProAvia Konsult AB. The company, founded in 2003, provides services in the field of systems engineering targeted especially to defense industry. ProAvia employs about 30 people and it has offices in Stockholm and Linköping.
The acquisition strengthens Etteplan’s market position and expertise in the area of demanding systems engineering and creates better growth opportunities for Etteplan. With the acquisition, Etteplan becomes one of the largest companies providing systems engineering in Sweden. The acquisition enhances Etteplan’s opportunities to offer services to aerospace and defense customers also outside Sweden.
Juha Näkki, President and CEO of Etteplan Oyj: “The signed agreement follows Etteplan’s strategy to increase its expertise to meet customers’ needs better. Etteplan has worked with ProAvia for several years and the acquisition is a natural extension to our well-working co-operation”.
The acquisition has a minor effect in Etteplan Oyj’s financial result in 2014.
Vantaa, January 9, 2014
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 400 606 372
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.etteplan.com
Etteplan provides engineering planning services and technical product information solutions to the world's leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers' products 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 2012, Etteplan had a turnover of EUR 134.5 million. The company has more than 1,700 professionals in Finland, Sweden, the Netherlands and China. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ticker ETT1V.