Fortum continues to develop its engineering operations. Along with the deregulation of European electricity markets, the demand for large-scale power plant projects has declined. Fortum’s subsidiary, Fortum Engineering Ltd, which designs and constructs power plants and provides consulting services mainly to outside Fortum, is responding to the changes by focusing its products and target markets and by enhancing its operations. As part of the structural change, nuclear power and hydropower engineering, which operate mainly on the Finnish market, will transfer within the Group to the Power and Heat sector and the Service sector. The transferring business units currently employ about 120 people.
Fortum Engineering Ltd will also launch co-operation negotiations to reduce the number of employees. The staff cuts, which will be implemented gradually, are likely to concern about a hundred and fifty people in Finland and about two hundred people in overseas subsidiaries. The numbers will be specified by the middle of February, and also the market situation and volume of bids in the near future will have an effect on the need to reduce the number of employees.
The total number of people employed by Fortum Engineering is just over 3,300. The arrangements in question concern Power Plant Engineering, which employs some 1,300 people. The number of employees of Oil, Gas and Chemicals Engineering is 560. Last summer, Fortum reported on its intention to sell Transmission Engineering, which employs 1,500 people.
Eero Aittola, Group Executive Vice President, Fortum Corporation, tel. +358 10 452 4234
Eero Auranne, President, Fortum Engineering, tel. +358 50 453 3420