ÅF sells ÅF-CTS Oy
For further information:
Jonas Wiström, CEO & President ÅF
+46 (0)70-608 12 20
Eero Auranne, President, Process Division
+46 (0)70-320 09 53
Viktor Svensson, Director, Corporate Information
+46 (0)70-657 20 26
ÅF is to sell its Finnish subsidiary ÅF-CTS Oy with 130 employees for 4 million euros, which is in line with the company's book value.
The purchasers are the management of ÅF-CTS Oy and the venture capital company Nordic Mezzanine Ltd.
The sale is part of the strategic re-alignment currently being undertaken within ÅF's Process Division.
On 1 January 2007 around 70 members of staff were transferred from ÅF-CTS Oy to ÅF-Enprima Oy. After the sale of ÅF-CTS Oy the ÅF Group will have a total of approximately 350 employees in Finland.
As the sale requires the approval of a general meeting of shareholders in AB Ångpanneföreningen, an extraordinary meeting of shareholders has preliminarily been planned for August. A separate call to the meeting will be published no later than two weeks prior to the meeting.
The ÅF Group is a leader in technical consulting, with expertise founded on more than a century of experience. We offer highly qualified services and solutions for industrial processes, infrastructure projects and the development of products and IT systems. We are also one of the leading names in testing and inspection. Today the ÅF Group has 3,500 employees. Our base is in Europe, but our business and our clients are found all over the world.