SRV mergers its Business Premises and Housing and Regional business areas in
Finland as from 1 January 2011. After the merger, SRV's business operations will
be divided into two business areas: Operations in Finland and International
Operations. In addition, the company will report Other operations in accordance
with the present practice. In its financial reporting, the company will give
more detailed information on Business Premises construction and Housing
construction within the business segments.
The CEO of the company resulting from the merger is Jukka Hienonen. He will also
continue as CEO of the mother company, SRV Group Plc. Juha Pekka Ojala will be
in charge of the Business Premises operations and Juha-Veikko Nikulainen of the
Housing operations. The regional units will report of their overall operations
to the director of Business Premises. The company has regional units in Turku,
Tampere, Jyväskylä, Oulu, Lappeenranta and Joensuu.
The objective of the merger is to strengthen operational resources in order to
increase business activities outside the Greater Helsinki area both in business
premises and in housing. The merger improves also the steerability of
operations.
“SRV has a considerable market position in the construction of business premises
and housing in the Greater Helsinki area. Earlier, our regional units have
focused on residential construction. By combining the operations into one
organisation we can now utilise better our strong expertise in Business Premises
all over Finland, and enter into large-scale nonresidential projects”, says
Jukka Hienonen, CEO of SRV.
In January - September 2010, revenue in SRV's Business Premises business area
amounted to EUR 216.3 million and in Housing and regional operations to EUR 98.9
million. The operations employ a total of 562employees, whose contracts will be
continued unchanged. The aim is that the juridical changes could be finalised by
the end of March 2011.
SRV Group Plc
Jukka Hienonen
CEO
Further information:
Jukka Hienonen, CEO, tel. +201 45 5212
Distribution: Nasdaq OMX Helsinki, main media
