DESTIA SELLS SURVEY, DRILLING AND LABORATORY SERVICES TO MITTA
Mon 23 Nov 2015 09:00:00 AM EET
Destia Group Plc
Stock Exchange Release 23.11.2015, 9:00 am (CET +1)
Destia sells survey, drilling and laboratory services to Mitta
Destia Ltd and Mitta Oy have today signed a contract concerning business transaction according to which Destia sells its survey, drilling and laboratory services to Mitta, a Finnish company located in Oulu specialized in land survey, measurement and laser beaming services. Destia will record a capital gain from the transaction, which will have a positive impact on the Group’s operating profit in 2015. The transaction is expected to be completed on 31 December 2015. Due the transaction Destia updates its market guidance for year 2015.
The total external revenue of survey, drilling and laboratory services was about 6 million euros in 2014. About 100 employees will move to Mitta as existing employees.
”In line with the business strategy we concentrate on improving our core business and growing in selected business areas. The divestment will clarify our business portfolio and strengthen our balance sheet creating stronger preconditions to develop our core businesses and to grow. Our survey, drilling and laboratory services professionals will strengthen Mitta’s position as a strong domestic expert in the industry. For the personnel this means better development opportunities under new ownership”, says Hannu Leinonen, President and CEO of Destia Group Plc.
The Companies have also signed a cooperation agreement concerning survey, drilling and laboratory services which Mitta will provide to Destia in the future.
“The acquisition will enhance our ability to serve our customers even more versatile in the whole Finland. The technological development of land and geo survey has been very rapid in recent years and as a leading player in this area in Finland we invest continuously in the development of our personnel, which will further improve our customers' competitiveness”, tells Jari Lappi, CEO of Mitta Oy.
DESTIA GROUP PLC
Board of Directors
Destia Group Plc, President & CEO Hannu Leinonen, tel. +358 20 444 4000
Mitta Oy, CEO Jari Lappi, tel. +358 43 2111 600
NASDAQ OMX Helsinki
Destia is a Finnish infrastructure and construction service company. We build, maintain and design traffic routes, industrial and traffic environments, as well as complete living environments. Our services cover the whole spectrum, from comprehensive over ground operations to subterranean construction. In 2014 the revenue of the Destia Group was over €430 million. Destia employs about 1,500 people.
Mitta is a Finnish consultancy company specialized in land survey and measurement, which acts as part of the value chain in construction globally. Mitta is a leading company in the Finnish market, which sectors are survey, laboratory, drilling as well as environmental and energy services. In 2014 the revenue of Mitta was 12.5 million euros. Mitta employs about 125 top professionals.