As part of its ongoing divestment process, Vattenfall has sold off its German engineering consultancy, which the company says is a non-core business.

The Swedish group has offloaded Vattenfall Europe Power Consultant GmbH (VPC) to Palero capital GmbH (Palero) for an undisclosed price. Completion is expected during the first quarter 2014.
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The divestment of the engineering consultancy is a continuation of the company’s consolidation strategy. In March 2011, Vattenfall sold parts of its Swedish engineering consultancy business to Pöyry PLC.

“With the sale of VPC, Vattenfall consistently continues to deliver on its consolidation since 2009 as a reaction to the difficult market conditions in the energy sector,” said Tuomo Hatakka, head of Continental/UK.

Palero is also to acquire Serbia-based Vattenfall Europe Consultant East and Lausitzer Analytik GmbH.

VPC has a total of 535 employees of which 200 work in the main office in Vetschau. Employees also work in other VPC offices, among them, Berlin, Leipzig, Dresden and Hamburg.

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