Neste Corporation Press Release 29 September 2017 at 1 pm. (EET)
Neste acquires Jacob Engineering's stake in Neste Jacobs Oy
Neste and Jacobs Engineering Group have agreed that Neste acquires the 40% shareholding of Jacobs in Neste Jacobs Oy. After this transaction, Neste holds all shares in Neste Jacobs.
"Neste Jacobs is the leading company specializing in process industry technology, engineering and project management services in the Nordic countries. Its global customers include oil, gas and petrochemical companies, in particular. Jacobs, one of the largest companies in the world in engineering, has been a minority shareholder for 14 years and provided Neste Jacobs with expertise and an international scope," says Jyrki Mäki-Kala, CFO at Neste and Chair of the Board of Directors of Neste Jacobs.
"Neste Jacobs is an internationally respected company in its field. It is important that its quality continues to be high and its expertise remains competitive. Considering Neste, the engineering, project and technological expertise of Neste Jacobs supports the company's growth strategy and operational efficiency," Mäki-Kala says.
The sale and purchase agreement has been signed and the parties have agreed that the purchase price will not be disclosed.
The largest customers of Neste Jacobs include e.g. Neste and Borealis. The company employs 1,300 experts in engineering, technology and project management who work on projects in many different countries.
Neste Corporation
Kaisa Lipponen Director, Corporate Communications Further information: Jyrki Mäki-Kala, Chair of the Board of Directors of Neste Jacobs, tel. +358 50 458 4098
Neste in brief Neste (NESTE, Nasdaq Helsinki) builds sustainable options for transport, business and consumer needs. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality and low-emission renewable products and oil products with tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner whose expertise, research and sustainable practices are appreciated worldwide. In 2016, Neste's net sales stood at EUR 11.7 billion, and we were on the Global 100 list of the most sustainable companies in the world. Read more: neste.com
Neste Jacobs in brief Neste Jacobs is a preferred solution provider of high-quality technology, engineering and project services for industries in oil and gas, petrochemicals, chemicals, biorefining, biochemicals, biopharma and industrial infrastructure. We have 60 years of experience in technology development and industrial investment projects as well as maintenance and performance improvement in Europe, North and South America, Asia and the Middle East. In addition to our home market Nordic countries we are looking to grow in the global expanding markets. We employ a total of 1,300 professionals globally. www.nestejacobs.com
