SRV Yhtiöt Oyj — M&A Activity 2015

Aug 5, 2015

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SRV Yhtiöt Oyj - Company Announcement

SRV to participate in Fennovoima’s nuclear power plant construction project as project manager and investor

Espoo, Finland, 2015-08-05 07:45 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 5 AUGUST 2015 at 08.45 SRV to participate in Fennovoima's nuclear power plant construction project as project manager and investor SRV has decided to become a shareholder in the nuclear power plant to be built at Pyhäjoki. SRV has made a financing commitment to Fennovoima's main owner Voimaosakeyhtiö SF. The financing commitment is equivalent to a 1.8% stake in the Fennovoima project. As part of the agreement package, SRV has signed a project management agreement with Fennovoima's plant supplier Rusatom Overseas and the main contractor Titan-2. “The agreement now signed represents a significant increase in SRV's operations and further strengthens our position as a pioneer of project management contracting in Finland. This is clearly a major agreement package in the company's history,” says SRV President & CEO Juha Pekka Ojala. SRV will operate in the project primarily as project manager, particularly with respect to Finnish partners, together with main contractor Titan-2. The deal requires final approval by Finnish Radiation and Nuclear Safety Authority. “The project required the participation of a reliable Finnish partner familiar with local legislation and regulations. SRV has strong experience of project management and we have been well acquainted with Fennovoima's nuclear powerplant project for a long time now,” explains Ojala. Further information: Juha Pekka Ojala, President & CEO, tel. +358 40 733 4173 Ilkka Pitkänen, CFO, tel. +358 40 667 0906 Päivi Kauhanen, Vice President, Communications, tel. +358 50 598 9560 www.srv.fi