PRESS RELEASE

Vaasa / Hennigsdorf

August 23, 2011

 

Citec establishes operations in Germany

 

Citec Group Oy Ab has acquired the system engineering business of Imotion.

 

The acquisition is a key part of Citec’s strategy to expand its business operations in a more rapid pace in Germany.

“This is a great leap into the German market. The intention is to combine Imotion’s solid consulting experience with Citec’s competence, and seek for growth in Germany”, says Martin Strand, CEO of Citec Group. “The current engineering expertise of Imotion is tied to rail vehicles services, but we will expand the service scope. We will consequently offer Citec’s global multi-discipline engineering and information management expertise to all our customer segments, i.e using the operations as the foundation for building up Citec geographically close to our German customers, for instance within the energy and power sector”, says Martin.

 

Imotion is a German engineering company based in Hennigsdorf, close to Berlin. The company currently employs 16 professionals. Citec aims at having fully operational personnel in Germany as of September 1.

 

“I am happy to have an agreement in place for a swift start in Germany. We have analyzed potential acquisitions thoroughly for approximately a year and concluded that Imotion fits well with Citec. We have similar ways of working in engineering projects and they strengthen our competence within for instance electrical engineering”, says Ralf Wallin, Industry Area Director, Vehicles at Citec. Ralf Wallin is responsible for the integration of Imotion into Citec.

 

Holger Wülfken, currently the Managing Director of Imotion, has been appointed Managing Director of Citec’s operations in Germany. The new company will be marketed as Citec Germany and registered as Citec Engineering & Information GmbH.

 

For more information, please contact:

 

Ralf Wallin, Industry Area Director, Vehicles

Phone: + 358 50 571 1797

E-mail: ralf.wallin(at)citec.com

 

Holger Wülfken, Managing Director, Citec Germany

Phone: +49172 8993041

E-mail: holger.wuelfken(at)citec.com

 

 

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Contact

Michael Smirnoff

Director, Group Marketing & Communications

michael.smirnoff(at)citec.com

Phone: +358 (0)50 4640 656