In a statement today, it was announced that Swedish engineering consultants SWECO would be withdrawing from the SwedPower International AB joint venture with Vattenfall. Vattenfall will, in future, solely operate the energy sector service provider, with SWECO’s international activities being carried out under its own name.
The joint venture company has been in operation for 25 years on behalf of Vattenfall and SWECO subsidiary SWECO Energuide AB. The companies have now agreed to develop operations separately, under their own auspices. SWECO Energuide will conclude its current assignments in SwedPower International’s name.
The change is a natural step in creating greater flexibility in the international operations of both companies” say Jan-Inge Gidlund, president of SwedPower International and Erik Severin, president of SWECO Energuide in a joint statement.
Vattenfall will continue to run its consulting operations abroad through SwedPower International, which becomes a wholly owned subsidiary in the Vattenfall Group.