ETTEPLAN ACQUIRED THE SHARE CAPITAL OF LCA ENGINEERING OY
Stock exchange release – Published: 10.01.2007 11:00:00
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 Etteplan Oyj 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 Principal media www.etteplan.com