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SWECO: Sweco streamlines Russian operations

Press release published at The Swedish Wire
Sweco has sold all shares in the Russian subsidiary Sweco Lenvodokanalproekt with 100 employees. The buyer is the company BiotechProgress and the sales price amounts to approximately SEK 26 million. The sale will have a negative effect on earnings of around SEK 5 million in the fourth quarter of 2013.

"We have received an attractive offer that is positive for both the employees and the company. We see BiotechProgress as a buyer that will support ongoing development for the employees, at the same time that Sweco is able to streamline its operations in the Russian market," says Bo Carlsson, President of Sweco Central Europe.

Sweco Lenvodokanalproekt operates in the water and environment segment and has around 100 employees. The buyer, BiotechProgress, is active in the same niche as both a contractor and supplier of equipment. For Sweco's presence in Russia, the transaction means that operations will be specialised in services for structural engineering and transport planning. Following the sale, Sweco will have around 100 employees in Russia.

For more information contact:

Bo Carlsson, President of Sweco Central Europe, +46 8-695 63 03, bo.carlsson@sweco.se

Sweco is the Nordic region's leading consultancy for sustainable urban development. Our 9,000 engineers, architects and environmental experts develop value-creating solutions for our clients and for society. Sweco is among the ten largest consulting engineering companies in Europe and annually conducts projects in 80 countries throughout the world. The company has yearly sales of approximately SEK 9 billion and is listed on Nasdaq OMX Stockholm AB.
This information was distributed by Cision
 

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