Neste’s fully owned Neste Engineering Solutions Oy to be merged into Neste Corporation
Neste Corporation, Press Release, 29 April 2022 at 9:15 a.m. EET
Neste’s Board of Directors has approved a merger plan according to which the company’s wholly-owned subsidiary Neste Engineering Solutions Oy will be merged into Neste Corporation.
The merger is expected to take place on 30 September 2022 and it will only affect the Finnish operations. The entire personnel, approximately 750 professionals, will transfer to Neste Corporation. Contractual rights and obligations of Neste Engineering Solutions Oy will transfer to Neste Corporation upon completion of the merger.
Neste Engineering Solutions offers high quality technology and engineering services, including among others engineering, procurement and project management services for the oil & gas, petrochemicals and bio based industries. Neste Engineering Solutions operates in Finland, in Singapore and in the Netherlands.
In the next couple of months, Neste will further assess whether it is beneficial and feasible to also combine Neste Engineering Solutions’ businesses with Neste in the Netherlands and Singapore.
Neste Corporation
Susanna Sieppi
VP, Communications
Further information: Patrick von Essen, Managing Director, Neste Engineering Solutions Oy, tel. +358 10 458 3220, patrick.essen(at)neste.com or Neste’s media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET)
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com