February 17, 2005
AB ELEKTROS TINKLU STATYBA IN VILNIUS ACQUIRED BY EMPOWER AB
Empower AB, being a member of Empower Group will acquire from State Property Fund 85,72 per cent of the shares of AB Elektros Tinklu Statyba (ETS) with the commitment to maintain the work places and invest in the company not less than 6,9 million litas. ETS is Lithuania´s biggest network constructing company.
After closing of the transaction AB Empower and ETS together with the other Empower Group companies will further develop and expand services to the customers in the energy and telecommunications industries.
"This deal is in accordance with the strategy of Empower to be locally present and increase its activity within the growing market for network services in the Baltic countries. The aim is to further develop the services and application concepts within the region", says Andres Vainola, Executive Vice President of Empower Group, responsible on Baltic operations.
Empower EEE AS
Andres Vainola, Chairman of the Board
Tel: +372 50 35 000
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