Pöyry

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Pöyry
Public (oyj)
Industry Engineering
Founded 1958
Products Engineering and project management, management consulting
Number of employees
6,830 (2012)[1]
Website www.poyry.com

Pöyry (OMXPOY1V) is a global consulting and engineering firm focusing on the energy, forest industry and infrastructure and environment sectors. It focuses on power generation, transmission and distribution, forest industry, chemicals and biorefining, mining and metals, transportation, water and real estate sectors.[2] It changed its name from Jaakko Pöyry Group in 2006. The company is listed on the Helsinki Stock Exchange and is headquartered in Vantaa, Finland.

The company was founded by Jaakko Pöyry who spearheaded its growth from a small engineering office to a global corporation in his special field of interest, the forest products industry.

In 2012, Pöyry was hired as a consultant on the controversial Xayaburi Dam on the Mekong River in Laos.

Organisation[edit]

Pöyry operates with four business groups; Energy, Industry, Regional Operations and Management Consulting. The Pöyry Group has offices and operations in over fifty countries.

Financial information[edit]

In FY2010, Pöyry Group's net sales were EUR 682 million (EUR 674 million in 2009) and operating profits were EUR 11.6 million.

Controversy[edit]

In 2011, Pöyry was commissioned by the Government of Laos (GoL) to review whether GoL had complied with the guidelines of the Mekong River Commission in their commencement of the controversial Xayaburi Dam Project (the first major hydropower dam on the mainstream of the lower Mekong). Pöyry’s conclusion was that “Xayaburi HPP has principally been designed in accordance with the applicable MRC Design Guidelines”. However, they later go on to state “With additional investigations…it should be possible to fully meet the MRC Design Guidelines requirements relating to the Xayaburi HPP.” [3] Despite this contention, they concluded “the decision whether or not to proceed with the project rests solely with the Government of Lao”. [4] Both the Cambodian and Vietnamese governments have actively rejected the reports. [5]

In 13 June 2012, a complaint was lodged to the Finnish National Contact Point from 15 Non-Governmental Organisations in relation to a potential breach in the OECD Guidelines for Multinational Enterprises relating to their involvement with the project. Pöyry have however released a statement stating the firm “finds this complaint completely unfounded and without any basis in the OECD Guidelines for Multinational Enterprises.” [6]

Pöyry have faced separate criticism for their ethical conduct. In 2012, the management consulting arm was blacklisted by the World Bank themselves on allegations of bribery. The World Bank accused the firm of “submitting false invoices and providing improper benefits to World Bank Group staff.” [7]


Company rankings[edit]

The Engineering News-Record provides a yearly rank of the largest contractors and design firms internationally. In 2010, Pöyry was ranked the 21st largest international design firm with a revenue of US$736 million (or 78% of total revenue) from projects executed outside its home country. The Pöyry Group's total revenue was US$940 million, this ranked the firm as the 37th largest global design firm by total revenue.

CEO and President from autumn 2012 is Alexis Fries.[8]

References[edit]

  1. ^ Marketsdat, ft.com accessed 13 June 2012
  2. ^ poyry.com website
  3. ^ [1] accessed 28 January 2015
  4. ^ [2] accessed 28 January 2015
  5. ^ [3] accessed 28 January 2015
  6. ^ [4] accessed 28 January 2015
  7. ^ [ http://www.helsinkitimes.fi/business/2835-poeyry-blacklisted-by-world-bank-on-bribery-allegations.html] accessed 28 January 2015
  8. ^ lngworldnews.com accessed 13 June 2012

External links[edit]