Displaying items by tag: Pöyry

Jukka Pahta, 44, has been appointed Executive Vice President and Chief Financial Officer of Pöyry PLC. He will become a member of the Group Executive Committee of Pöyry PLC and report to Heikki Malinen, President and CEO of Pöyry PLC. Jukka Pahta will be based at the Pöyry headquarters in Vantaa, Finland. He will take over his new duties on 1 March 2011 at the latest.

Jukka Pahta has extensive and strong professional expertise in leading finance, treasury and IT functions. Jukka Pahta is currently Executive Vice President, Chief Financial Officer and Deputy to Chief Executive Officer of Myllykoski Oyj. Before joining Myllykoski, Jukka Pahta had a central role in IT and systems development at M-Real, where he was based in the United Kingdom for five years. Jukka Pahta holds a M.Sc. (Economics) degree from Turku School of Economics, Finland and a MBA from the London Business School.

Heikki Malinen, President and CEO, Pöyry PLC:
"I am very pleased to have Jukka Pahta join Pöyry's executive team. Jukka Pahta is an experienced finance professional and brings a solid understanding of finance, treasury and IT. During his career, Jukka has led extensive systems development projects and increased the effectiveness of finance and control processes."

Jukka Pahta comments: "It is really inspiring to join Pöyry in these interesting times. The selected strategy in Engineering Balanced Sustainability gives a sound platform for business development and profitable growth globally. I look very much forward to being able to contribute to that process in my role as the CFO."

Johan Brink, acting CFO of Pöyry PLC will continue in Pöyry PLC Group Finance reporting to Jukka Pahta.

PÖYRY PLC

Pursuant to Pöyry PLC's stock option programme 2004, 63 792 new shares of the company have been subscribed since 27 October 2010 with stock options 2004B. The Board of Directors of Pöyry PLC has approved these subscriptions in its meeting on 10 December 2010. Following these subscriptions, the total number of the company's authorised shares will increase to 59 413 798.

The aim is to have the increase in the number of shares registered in the Trade Register on 20 December 2010. According to the terms and conditions of stock options 2004, the subscribed new shares entitle to dividend and other shareholders' rights as of the date of registration of the shares into the Trade Register. The new shares will be joined to the old shares and are expected to be available for public trading on the main list of NASDAQ OMX Helsinki on 21 December 2010.

The subscription period for stock options 2004B started on 1 March 2008 and will end on 31 March 2011. A total of 286 972 shares have been subscribed with stock options 2004B by 10 December 2010 and available for subscription are a total of 373 028 shares.

The subscription period for stock options 2004C started on 1 March 2009 and will end on 31 March 2012. No shares have been subscribed with stock options 2004C by 10 December 2010 and thus 880 000 shares are available for subscription.

The terms and conditions of stock options 2004 and further information on the stock option programme are available on the company's web site www.poyry.com.

Additional information by:

Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC
tel. +358 10 33 23002

Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

The first major implementation milestone has been reached relating to the operational excellence programme aiming at improving the efficiency and quality of operations and serving Pöyry's clientele in a cost-efficient way.

Pöyry has made decisions to adapt capacity and to improve its operational model to be aligned with the current and future demand in Finland. These measures will lead to an annual operating profit improvement of about EUR 15 million. The majority of the impact will start from the beginning of 2011 onwards and the rest gradually after that. Restructuring costs of EUR 7.5 million will be recorded in the fourth quarter of 2010.

The statutory employee negotiations initiated in October 2010 in Pöyry's Finnish operations resulted in the decision to reduce capacity of the currently active workforce by about 270 persons. In addition, the capacity of the workforce that has been temporarily laid off will be reduced by about 130 persons. The implementation of these reductions will start immediately. Adaptation measures also include pension arrangements, possible relocations, and to a smaller extent also temporary lay-offs to adjust capacity.

Improvement of business support for Finnish operations will continue. In addition to personnel cost the cost-savings relate to facilities and other fixed costs. Including the above mentioned reductions, the current estimate for the total capacity reduction in Finland is 450-500 persons and includes both operative and non-operative personnel. The improved operational model is expected to be implemented by the end of the second quarter of 2011.

The process to consolidate detail engineering services to engineering centres in cost competitive locations was started in 2009. The ramp-up of engineering centres (Finland, Poland, Brazil, China) serving especially larger projects for industrial clients has resulted in the consolidation of the Finnish engineering centre operations in Kouvola. At the same time, the process to consolidate core competence areas that build on Pöyry's strong process know-how and project management capabilities has continued. The organisation in Finland plays a major role in offering clients effective integrated services, combining technology and process know-how with cost-efficient project implementation serving the industrial sector globally.

Office network in Finland has now been clustered under a regional model with wider scope of services and improved cost efficiency benefiting Pöyry's clients in the regions. Regional centres in Vantaa, Tampere, Turku, Oulu, Kuopio and Lappeenranta offer Pöyry's services across sectors. The regional centres will be supported by local offices concentrating on engagements requiring local presence. Finland will continue to constitute one of Pöyry's core markets with strong service capabilities employing around 2000 persons. This change in operational model does not impact Pöyry's external reporting structure.

Heikki Malinen, President and CEO:

"Cutting-edge engineering and project management is Pöyry's strength and future. Our employees are undoubtedly some of the best in the industry. By working as one Pöyry we can offer our customers the same broad scope of services everywhere. We have an excellent track record and current key projects demonstrate our continued strong presence as the market leader in Finland."

The group-wide operational excellence programme will continue during 2011-2012. The programme includes efficiency improvement measures and investing in core processes and competence development.

See also stock exchange releases of 14 and 28 October 2010 regarding the Operational Excellence Programme.

PÖYRY PLC

Additional information by:

Heikki Malinen, President and CEO, Pöyry PLC, Finland

Camilla Grönholm, Executive Vice President, Human Resources, Pöyry PLC, Finland

Contacts: Heli Uusnäkki, tel. +358 10 33 21158

Press outside the capital area:

Tapio Aalto, President, Pöyry Finland Oy

Contacts: Heli Uusnäkki, tel. +358 10 33 21158

Investors and analysts:

Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC, Finland

tel. +358 10 33 23002

Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts and the local office network in about 50 countries. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki. (Pöyry PLC: POY1V).

DISTRIBUTION:

NASDAQ OMX Helsinki

Major media

www.poyry.com

Pöyry signed a cooperation agreement with Aalto University on 1 December 2010 which will support the university's research, development and education efforts. As part of the agreement and in accordance with the decision made at the 2010 Annual General Meeting, Pöyry has approved EUR 300 000 to be donated to Aalto University's foundation.
 
Aalto University's multidisciplinary focus areas from digitalisation and services, sustainable use of energy and natural resources, and human living environment are in line with Pöyry's strategic goals. With the cooperation agreement Pöyry aims to secure its top-level know-how and resources in Finland now and in the future.
 
"The strategic goals of Pöyry and Aalto University are very much aligned. With our Balanced sustainability approach and high-level know-how, Pöyry seeks solutions to future challenges. One of the main goals of this high-level cooperation is to combine the creation of new knowledge with direct utilisation in certain key projects. We also aim to distribute knowledge we represent to future experts in order to do our part to ensure Finland stays at the forefront of knowledge and development in these areas", says Heikki Malinen, President and CEO.
 
PÖYRY PLC
Additional information by:
Heikki Malinen, President and CEO, Pöyry PLC, Finland
Contacts to Jaana Pihlajaniemi, tel. +358 10 33 22399
Risto Laukkanen, Senior Vice President, Knowledge Management, tel. +358 10 33 22110
 
Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

DISTRIBUTION: www.poyry.com

Pöyry has concluded the statutory employee negotiations announced on 14 October at its largest legal unit in Finland, Pöyry Finland Oy. The negotiations are ongoing in some of the legal units that are covered by the negotiations. Regarding the Finnish operations the estimates announced on 28 October on the need for personnel reductions are still valid. At that time Pöyry announced that the reduction in capacity, of the currently active workforce, is estimated to correspond to 250-350 persons, and in addition to this, the future outlook for the workforce of about 200 persons temporarily laid off will be carefully considered. The estimate includes both operative and non-operative personnel.

Pöyry will make decisions regarding the on-going negotiations only when the negotiations have been concluded with all the legal units covered by the negotiations process. The decisions will then be published.

Development of processes supporting the operations will be continued as part of the operational excellence programme as announced on 28 October 2010.

Pöyry has published related stock exchange releases on 14 and 28 October 2010.

PÖYRY PLC

Additional information by:
Camilla Grönholm, Executive Vice President, Human Resources, Pöyry PLC, Finland

Hanna-Mari Tuovinen, Communications Director

Contacts:tel. +358 10 33 21178

Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

DISTRIBUTION:
Major media
www.poyry.com

On 14 October, Pöyry announced an operational excellence programme that aims at improving the efficiency and quality of operations. The Group-wide programme will be implemented during 2010-2012. Pöyry also announced that the programme will be started in Finland where the need for structural changes and streamlining of the organisation is most imminent. In this conjunction Pöyry also announced it will initiate statutory employee negotiation in all its Finnish operations.

Analysis of the operations in Finland and efficiency improvements needed to achieve profitability level in line with the targets set for the Group has been done. Based on this, the first indications of the possible impacts on the organisation and capacity have been estimated. The planned reduction in capacity, of the currently active workforce, is estimated to correspond to 250-350 persons. The targeted annualised cost savings are EUR 10-15 million. In addition, the future outlook for the workforce of about 200 persons temporarily laid off will be carefully considered. The related restructuring costs are estimated to be in the range of EUR 6-10 million including the possible additional costs from earlier reduction measures. Implementation of the efficiency improvement measures in Finland is expected to take about 6-9 months. The majority of the restructuring costs in Finland are expected to be recorded in the fourth quarter of 2010.

The measures to be taken focus on streamlining of operations and office network, reducing administration and non-billable activities as well as improving core processes and investing in competence development. As part of the programme, engineering services continue to be consolidated into engineering centres in cost competitive locations. Once completed, the Pöyry Group will have a more effective and cost-efficient organisation as well as a streamlined regional office network serving our Finnish clientele. Even after the estimated capacity reductions, Finland will constitute one of our core markets with strong service capabilities employing around 2000 persons.

PÖYRY PLC

Additional information by:
Heikki Malinen, President and CEO, Pöyry PLC, Finland
Camilla Grönholm, Executive Vice President, Human Resources, Pöyry PLC, Finland
Contacts: Heli Uusnäkki, tel. +358 10 33 21158

Press outside the capital area:
Tapio Aalto, President, Pöyry Finland Oy
Contacts: Heli Uusnäkki, tel. +358 10 33 21158
Investors and analysts:
Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC, Finland
tel. +358 10 33 23002

 

Based on current information, the Pöyry Group's operating profit for 2010, excluding one-time items, is estimated to decline clearly from the comparable figure in 2009. The Group's net sales for the full year 2010 are expected to remain stable.

The main reasons behind the reduced outlook are:

- Delays in start-up of awarded major projects

- Delays in final project investment decisions

- Low activity level in certain markets

- Structural overcapacity especially in Finland

More details about the outlook will be issued in Pöyry's January-September interim report, which will be published on 28 October 2010.

Previous Group level guidance issued on 21 April 2010:

Group sales for the full year 2010 are expected to remain stable or grow from 2009. The Group's operating profit is expected to remain stable compared with 2009 after inclusion of incremental business development expenses necessary to accelerate growth in line with the Vision.

The outlook and comparison both refer to figures excluding one-time items.

PÖYRY PLC

Additional information by:

Heikki Malinen, President and CEO, Pöyry PLC, Finland

Contacts to Jaana Pihlajaniemi, tel. +358 10 33 22399

Johan Brink, CFO (acting), Pöyry PLC, Finland

Tel. +358 10 33 22183

Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC, Finland

Tel. +358 10 33 23002

Pöyry has been awarded the engineering, procurement and construction contract for a tall oil plant by Zellstoff Pöls AG in Austria. The value of the contract is about EUR 1.6 million and it will be executed over a period of eleven months.

The assignment comprises a 2.5 t/h crude tall oil plant with auxiliaries based on the HDS® (Hydro Dynamic Separation) technology, which is Pöyry´s proprietary know-how. Similar technology based equipment has already been installed in the 20 most modern pulp mills in Europe, the USA, Canada and China. The plant has high yield, good availability and low maintenance costs and it produces high-quality crude tall oil.

Zellstoff Pöls AG is a member of the Heinzel Group and the mill is the largest manufacturer of high-quality elementary chlorine­free (ECF) bleached softwood sulphate pulp in Central and South-East Europe. It employs 380 people and has a capacity of 400 000 t/a of bleached softwood kraft pulp.

PÖYRY PLC

Additional information by:

Ari Asikainen, President, Energy business group, Pöyry PLC, Finland

Tel. +358 10 33 24476

Tero Vainiomäki, Vice President, Project Management, EPC projects, Pöyry Finland Oy

Tel. +358 10 33 24538

Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

www.poyry.com

Pöyry PLC's Q2 interim result will be published 22 July 2010 at 8:30 a.m. Finnish time. News conferences will be held as follows:

- A conference in Finnish will be arranged at 12 p.m. Finnish time at Restaurant Savoy, Eteläesplanadi 14, Helsinki, Finland.

- An international conference call and webcast in English will begin at 5:00 p.m. Finnish time (EET).

10:00 a.m. US EDT (New York)
3:00 p.m. GMT (London)
4:00 p.m. CET (Paris)
5:00 p.m. EET (Helsinki)

The webcast may be followed online on the company's website www.poyry.com. A replay can be viewed on the same site the following day.

To attend the conference call, please dial
US: +1 334 323 6201
Other countries: +44 20 7162 0025
Conference id: 869206

Due to the live webcast, we kindly ask those attending the international conference call and webcast to be present five minutes prior to the start of the event.

PÖYRY PLC

Additional information by:
Sari Mäkelä, Communications Assistant
Tel. +358 10 33 22828

Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
www.poyry.com

Suzano Papel e Celulose Ltda, Brazil, has awarded Pöyry a contract for pre-engineering and preparatory work for mill infrastructure for a 1.3 million t/a bleached eucalyptus market pulp mill to be built in the state of Maranhao, Brazil. The value of Pöyry's assignment is about EUR 7.3 million. The client is expected to make the final investment decision in spring next year.

The concept of the mill is based on the use of the best available technologies and the best environmental practices, which constitute a state-of-the-art level pulp mill. Using existing eucalyptus plantations as raw material, the mill is to produce more with less use of natural resources, at low production costs, progressive environmental impact reduction and minimum risk of accidents at work.

The assignment now received strengthens Pöyry's position as the leading engineering solutions provider for the pulp and paper sector in the world.

PÖYRY PLC

Additional information by:

Martin Kuzaj, President, Industry Business Group, Finland

Tel. +358 10 33 21179

Sanna Päiväniemi, Director, Investor Relations, Pöyry PLC, Finland

Tel. +358 10 33 23002

Pöyry is a global consulting and engineering company dedicated to balanced sustainability. We offer our clients integrated management consulting, total solutions for complex projects and efficient, best-in-class design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7000 experts operating in about 50 countries, locally and globally. Pöyry's net sales in 2009 were EUR 674 million and the company's shares are quoted on NASDAQ OMX Helsinki (Pöyry PLC: POY1V).

DISTRIBUTION:

NASDAQ OMX Helsinki

Major media

www.poyry.com