Merger of Neste’s fully owned Neste Engineering Solutions Oy in Finland into Neste Corporation to be completed
Neste Corporation, Press Release, 30 September 2022 at 10 a.m. EET
In April 2022, Neste announced that it would merge the company’s wholly-owned subsidiary Neste Engineering Solutions Oy (NES) into Neste Corporation. The plan has now been completed and the merger will take place on 1 October 2022.
The merger affects only the Finnish operations. The entire NES personnel in Finland transfers to Neste Corporation. NES’ business will be conducted by the Engineering Solutions unit starting from 1 October 2022.
Engineering Solutions and Neste Engineering Solutions offer high quality technology and engineering services, including among others engineering, procurement and project management services for oil & gas, petrochemicals and bio based industries. Engineering Solutions operates in Finland, whereas NES’ businesses in Singapore and in the Netherlands continue operating as Neste Engineering Solutions.
Neste will continue assessing 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: Please contact 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
