ETTEPLAN INCREASES ITS SHARE OF OWNERSHIP IN
KONETTE DESIGN CENTER OY
Etteplan Oyj and KONE Corporation have signed an agreement,
according to which Etteplan will acquire a 21 % supplementary
share of Etteplans and KONE Corporations joint venture
Konette Design Center Oy. Etteplans share of ownership grows
consequently from 60 % to 81 % and KONE Corporations share of
ownership decreases from 40 % to 19 %.
The acquisition follows the ownership strategy, which was agreed
between Etteplan Oyj and KONE Corporation in 1999 when Konette was
established. The strategic partnership between the companies has been
established and does no longer require the stability the ownership
has brought during the transition phase. Co-operation between
Etteplan and KONE Corporation has expanded significantly and
internationalised through Konette.
Konette Design Center Oy offers design and project management
services for hi-tech corporate clients on a global level. The
core services include electronics, software, mechanics, electrics,
automation and information design. The company employs 208 persons
in Finland and Germany.
The acquisition has no effect in the operational functions and the
position of personnel.
Etteplan Oyj is one of Finland's leading engineering design companies
and supplies high-quality design services for the production and
product development processes of industrial technology. The core
areas of expertise are mechanical engineering, electrical engineering
and automation design as well as software development and electronics
design and EMC-services. In 2003, turnover of Etteplan Group were
51 MEUR. At the moment the company employs 942 persons in Finland,
Sweden, Germany and Italy. Etteplan Oyj is listed on the NM List of
Hollola, 11 June, 2004
Board of Directors
For additional information, contact: Etteplan Oyj,
CEO Heikki Hornborg, tel. +358 3 872 9011, GSM +358 400 873 063 or
Konette Design Center Oy, Managing Director Timo Juvonen,
Tel. +358 20 475 2251, GSM +358 400 493 054.
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 some 3,400 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