Citec

Last updated
Citec
Founded1984
Headquarters
Vaasa
,
Finland
Number of locations
 Finland, Sweden, India, France, Germany, Norway
Key people
Johan Westermarck (CEO)
ServicesEngineering and Information management services
RevenueIncrease2.svg €73 million (2020) [1]
Owner Sentica Partners  [ fi ], Winwest Oy and senior management
Number of employees
1200 [2]  (2022)
Parent Cyient (2022–) [2]

Citec is a company that provides plant and product engineering, engineering consultancy as well as in technical documentation. The company trades within energy, process, oil & gas and machinery & equipment sectors.

The total number of employees is 1,000 and the turnover for 2020 was 73 million euros.

Citec is headquartered in Vaasa, Finland, and has offices in Finland, Sweden, Norway, France, Germany, India and Saudi Arabia.

The company Tri-Tech was founded in 1984 by Rune Westergård and Rolf Berg within the field of mechanical engineering.

During the first few years the company was a small engineering firm. In the early 1990s, a more rapid expansion phase began. Simultaneously as new lines of business emerged: environmental consultancy and technical documentation. These lines of business became two separate corporations in 1993 (Citec Environmental) and 2001 (Citec Information). In 2008, Citec Environmental became part of Citec Engineering Oy Ab.

In 2011 both companies - Citec Engineering Oy Ab and Citec Information Oy Ab – were consolidated into one group; Citec Oy Ab. A fund managed by Sentica Partners entered as the new majority shareholder with a 67 percent share and Martin Strand was appointed CEO as of June 1, 2011.

In conjunction with Martin Strand's retirement, Johan Westermarck was appointed CEO of Citec Group as of December 4, 2017. [3]

In 2022, the Indian company Cyient purchased all of the shares of Citec for € 94 million (equivalent to € 99 millionor US$ 107 million in 2023) [4] . [2]

History

Related Research Articles

<span class="mw-page-title-main">Infosys</span> Indian multinational technology company

Infosys Limited is an Indian multinational technology company that offers business consulting, information technology, and outsourcing services. Founded in Pune, the company is headquartered in Bangalore, Karnataka.

<span class="mw-page-title-main">Tata Consultancy Services</span> Indian multinational technology company

Tata Consultancy Services (TCS) is an Indian multinational technology company specializing in information technology services and consulting. Headquartered in Mumbai, it is a part of the Tata Group and operates in 150 locations across 46 countries. It is the second-largest Indian company by market capitalization.

Fiskars Group, is a Finnish consumer goods company founded in 1649 in Fiskars, a locality now in the town of Raseborg, Finland, about 100 kilometres (62 mi) west of Helsinki. It is one of the oldest continuously operating companies in the World. Fiskars' global headquarters are located in the Keilaniemi district of Espoo, near Helsinki.

<span class="mw-page-title-main">Metso</span> Finnish industrial machinery company

Metso Corporation was a Finnish industrial machinery company focusing on providing technology and services for mining, aggregates, and oil and gas, recycling, pulp and paper and other process industries.

Cargotec Oyj is a Finnish company that makes cargo handling machinery for ships, ports, terminals and local distribution.

<span class="mw-page-title-main">Neste</span> Finnish oil company

Neste Oyj is an oil refining and marketing company located in Espoo, Finland. It produces, refines and markets oil products, provides engineering services, and licenses production technologies. Neste has operations in 14 countries.

<span class="mw-page-title-main">Finnish maritime cluster</span> Cluster of Finnish companies in maritime industries

The Finnish maritime cluster is a cluster of Finnish companies in maritime industries. In 2016 the total turnover was estimated at 13 billion euros and it employed 48,000 people.

Bank of Åland Plc is a Finnish commercial bank and banking group with over 700 employees and operations in Åland, Finland and Sweden. The bank was founded in 1919 and was listed on the stock exchange in 1942. Its president and CEO is Peter Wiklöf.

Aker Arctic Technology Oy is a Finnish engineering company that operates an ice model test basin in Helsinki. In addition to ship model testing, the company offers various design, engineering and consulting services related to icebreakers, other icegoing vessels and arctic offshore projects as well as full scale trials, field expeditions and training for icy conditions. Formerly the arctic research centre of Wärtsilä and later Masa-Yards, Aker Arctic was established on 30 December 2004 as an independent company with Finnish Industry Investment Ltd, ABB and Aker Solutions as its current shareholders.

<span class="mw-page-title-main">Sigma AB</span>

Sigma AB is a group of companies carrying out consultancy operations within IT, information logistics, engineering services, technical R&D, industry and social structure.

Cyient is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, networks and operations. It was established in 1991 in Hyderabad as Infotech Enterprises Ltd. Infotech Enterprises was re-branded as Cyient in 2014.

<span class="mw-page-title-main">Lars Wilhelm Åberg</span>

Lars Wilhelm Åberg was a Finnish engineer and businessman. He was the General Manager of Wärtsilä and co-founder of Suomen Autoteollisuus (SAT).

<span class="mw-page-title-main">Perno shipyard</span> Shipyard in Turku, Finland

Perno shipyard is a shipyard in Turku, southwest Finland, that specialises in building cruise ships, passenger ferries, special vessels and offshore projects. The yard area is 144 hectares and is operated by Meyer Turku Oy with a dry dock 365 metres (1,198 ft) long, 80 metres (260 ft) wide and 10 metres (33 ft) deep. It has the largest bridge crane in the Nordic region with a capacity of 1,200 tonnes and a smaller crane with a capacity of 600 tonnes.

<span class="mw-page-title-main">Kone- ja Siltarakennus</span>

Kone- ja Siltarakennus Oy is a Finnish former engineering company based in Sörnäinen, Helsinki.

<span class="mw-page-title-main">Gustaf Wrede</span>

Gustaf Woldemar Wrede af Elimä was a Finnish Freiherr, engineer and businessman. He is best known for his contribution to Finnish tractor production.

<span class="mw-page-title-main">Meyer Turku</span> Finnish shipbuilding company

Meyer Turku Oy is a Finnish shipbuilding company located in Turku, Finland Proper. The company is fully owned by German shipbuilder Meyer Werft GmbH. The main products are cruise ships and cruiseferries.

<span class="mw-page-title-main">Robert Lavonius</span> Finnish businessman

Robert Johannes Lavonius was a Finnish businessman, engineer and vuorineuvos.

<span class="mw-page-title-main">Bertel Långhjelm</span> Finnish engineer

Curt Bertel Casimir Långhjelm was a Finnish engineer, businessman and vuorineuvos.

Tor Björn Stolpe was a Finnish businessman and vuorineuvos.

<span class="mw-page-title-main">Carl Nordensvan</span> Finnish soldier

Carl Lennart Nordensvan, was a Finnish soldier and automobile businessman. He is notable for his service as a member of the Finnish Jäger Movement during the First World War and in the Finnish Civil War, for organizing the Finnish Army Automobile Troops following the civil war, as well as for his pioneering efforts in the automobile industry and motor sports in Finland.

References

  1. ↑ "Citec in brief". Citec. Archived from the original on 7 September 2013. Retrieved 22 March 2013.
  2. 1 2 3 4 Häggman Grindgärds, Fredrik (27 April 2022) [published online 26 April 2022 at 12:11]. "(Stor) indisk teknikkoncern köper Vasaföretag". Nyheter / Ekonomi. Hufvudstadsbladet (in Finnish). p. 12. PressReader 33542022042700000000001001 . Retrieved 2024-11-07.
  3. ↑ "Johan Westermarck appointed new CEO of Citec Group". Citec. 2017-11-21. Retrieved 2022-01-03.
  4. ↑ Eurostat, HICP - annual data (average index and rate of change); for Euro area (19 countries; 20 countries since 2023) , retrieved 2 March 2024. DOI 10.2908/prc_hicp_aind
  5. ↑ "Wärtsilä Gas Solutions outsources the Technical documentation and the piping and instrumentation diagram (P&ID) drafting processes to Citec". Citec. 2019-06-18. Retrieved 2022-01-03.
  6. ↑ "Outotec outsourced some project engineering activities to Citec". Metso Outotec. Retrieved 2022-01-03.
  7. ↑ "Cargotec sells its engineering centre in India and enters into long-term partnership with Citec". Archived from the original on 10 September 2014. Retrieved 13 June 2014.
  8. ↑ "Citec Acquires M7 Offshore". Archived from the original on 19 April 2015. Retrieved 18 April 2015.
  9. ↑ "Citec Buys French Oil & Gas Engineering Consultancy Akilea" . Retrieved 4 April 2013.
  10. ↑ "Citec köper Vasaföretag (Citec buys Vaasa based company)".[ permanent dead link ]
  11. ↑ "Citec establishes operations in Germany". Archived from the original on 2013-06-29. Retrieved 2013-04-04.
  12. ↑ "Sentica acquires stake in Citec". Archived from the original on 1 July 2013.
  13. ↑ "Citec köper KPA Engineering". Archived from the original on 2016-03-05. Retrieved 2013-04-04.
  14. 1 2 "Citec History". Citec. Archived from the original on 25 August 2013. Retrieved 22 March 2013.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.