ETTEPLAN ACQUIRES THE ENTIRE SHARE CAPITAL OF THE SWEDISH COOL ENGINEERING AB
ETTEPLAN ACQUIRES THE ENTIRE SHARE CAPITAL OF THE SWEDISH COOL ENGINEERING AB
Etteplan Oyj has signed an agreement to acquire the entire share capital of the Swedish Cool Engineering AB. The Swedish company, established in 1989, provides testing and analysis services for the automotive industry in particular. Cool Engineering AB complements Etteplan's extensive expertise in the automotive industry. The company's special competencies include, e.g., automotive exhaust and air-conditioning systems. “The demand for cleaner, energy-saving solutions is increasing considerably, and this acquisition allows Etteplan to serve its existing customers as well as new customers and customer groups with innovative solutions,” says Matti Hyytiäinen, President and CEO of Etteplan. The Gothenburg-based Cool Engineering AB currently employs 50 specialists. In addition to having its own laboratory, the company performs testing on customers' premises as well. Cool Engineering AB's turnover for the last full fiscal year was SEK 26 million. With the acquisition, Etteplan buys 100% of the shares and votes from the company's owners. The entire sum is being paid in cash. Cool Engineering AB's owners - Morgan Henriksson and Arvo Siösteen - and all of the company's personnel continue working for the company. The plan is for Cool Engineering to continue as a separate entity within Etteplan Group, with the company's operations developed according to mutually agreed strategies. Etteplan is one of the leading industrial technology specialists in its field. The company provides high-quality services for its customers' product development and production processes and offers comprehensive solutions for technical documentation. The company enjoyed a turnover of 101.7 million euros in 2006, and it employs more than 2,000 people. Hollola; January 9, 2008 Etteplan Oyj Matti Hyytiäinen President and CEO More information is available from Jukka Rausti, Executive Vice President of Etteplan Oyj (tel. +358 400 612 463). DISTRIBUTION: OMX Nordic Exchange Helsinki Principle media www.etteplan.com