SWECO continues eastward expansion and acquires Russian consulting firm

SWECO’s subsidiary SWECO VIAK has acquired a 50 per cent holding in the Russian environmental consultancy Lenvodokanalproekt, providing a valuable local presence in the fast-growing Russian market.

Lenvodokanalproekt is based in St. Petersburg and has some 60 employees. The company operates nationwide and is the leading provider of consulting services for water and environmental engineering in northwestern Russia. ”The acquisition is part of our strategic focus on the expansive Eastern European markets. We have been active in Russia for many years and the addition of Lenvodokanalproekt will enable us to combine our earlier experience in the country with strong local ties,” says Bo Jansson, Acting Managing Director of SWECO. SWECO carried out its first Russian assignment in St. Petersburg as early as 1903, and is currently involved in some 20 projects throughout the country worth more than 13 million euros. The highly expansive Russian market for water and environmental consulting services is valued at over 160 million euros annually. ”We are seeing rapid growth in Lenvodokanalproekt and the company is expected to hire additional staff,” says Per Johansson, Managing Director of SWECO VIAK. SWECO VIAK has an option to acquire the remaining shares in Lenvodokanalproekt.