Eastern European Markets
November, 7. 2005

Fortum acquires fourth district heating company in Poland

Fortum and the city of Plock in Poland have signed an agreement on the purchase of the city's district heating company Plocka Energetyka Cieplna Sp. z o.o (PEC). Following the acquisition, Fortum will own four heating companies in Poland with aggregate net sales of close to EUR 130 million and annual heat sales of 3900 gigawatt-hours (GWh).

The transaction is subject to the approval of the Polish Competition Authority. The decision is expected within the next few weeks.

The city of Plock is located some 120 km North-West of Warsaw. The annual net sales of the acquired company are approximately EUR 13 million with annual heat sales amounting to 500 GWh. The company employs 170 people.

Fortum's goal is to become one of the leading heat suppliers in Poland. To support this objective, the company has been actively involved in the privatisation of Polish heat companies.

At the end of October, Fortum signed a contract with the City of Wroclaw in Poland regarding the acquisition of a majority holding in the city's district heating company MPEC Wroclaw S.A.

For further information:
Timo Karttinen, Senior Vice President, Corporate Development,
phone +358 10 453 6555, mobile +358 50 453 6555
Risto Riekko, President, Fortum Heat
phone +358 10 453 4485, mobile +358 50 453 4485
Jaakko Vähä-Piikkiö, Vice President, Fortum Heat,
phone +358 10 453 2009, mobile +358 50 453 2009

Compiler´s choice - More News Releases

Archive 2005. News Releases

 TERMS & CONDITIONS / KÄYTTÖOIKEUDET. © Oy Compiler Ab. All rights reserved.