Neste’s Fully Owned Neste Engineering Oy to be Merged into Neste Corporation

Source: www.gulfoilandgas.com 4/29/2022, Location: Europe

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.


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