27 November 2008 - The German
company DEKRA AG acquires approximately 96% of the outstanding shares of
Polartest Oy from the current shareholders Teollisuuden Voima Oyj, Fortum Power
and Heat Oy, Pöyry Energy Oy and the management. The remaining shares will be
retained by the management of the company as part of the new owner’s incentive
programme for the management.
The sale and purchase agreement was
signed on November 26, 2008, and closing is expected to occur on December 31,
2008 after approval by the German Anti-trust Authority.
Polartest, an independent inspection
company and notified body, founded in 1974, offers manufacturers and users in-service
inspections of pressure equipment, conformity assessment services, inspections
of electrical installations and fire alarms, as well as non-destructive testing
(NDT) and laboratory testing (DT). Polartest is the market leader in its own
segments of material testing and number 2 in pressure equipment inspections in
“DEKRA, one of the leading
international professional services companies, provides Polartest’s clients
with technical competence and an international network. Polartest will become
part of DEKRA Service Line “Energy, Chemical, Oil & Gas” strengthening our
position to be the international Service Provider in the Material Testing
Segment. We are very happy to be able to add Polartest’s know-how and strong
market position to our organisation”, stated Dr. h.c. Klaus Schmidt, Chairman
of the Board of DEKRA AG.
“There is a great geographical and
technical fit between Polartest and DEKRA. We see high complementarities in the
service sectors power stations and refineries. Furthermore we were convinced by
the enterprise culture of DEKRA and the presented strategy in our business
segment, which provide an excellent basis to develop Polartest’s business even
further“ says Matti Andersson, Managing Director of Polartest, and adds that
“DEKRA’s vast office network also gives Polartest’s personnel the possibility
to work in an international expert organisation. We are very content with this
transaction, and the opportunities it provides.”