Nuon is part of Vattenfall
Since 1 July 2009 Nuon is part of Vattenfall. Vattenfall is an energy company that operates in Northern Europe. The originally Swedish company celebrated its 100th anniversary in 2009 and currently operates in its core countries Sweden, Germany and the Netherlands. Vattenfall is also active in Poland, Denmark, Finland, Great Britain and France.
Vattenfall is an integrated energy company that not only produces energy but distributes, trades and sells it as well. The company has three product groups: electricity, heat and gas. Expansion and growth are expected in the production of electricity with low CO2 emissions, using wind energy, nuclear energy, biomass hydro power and natural gas. Vattenfall has an investment budget of 17.8 billion euro for the years 2011-2015.
New strategic direction
Vattenfall announced its new strategic direction on 21 September 2010: an organisation based on business divisions is to be introduced on 1 January 2011. ‘With the new strategic direction Vattenfall is taking a further step in the development of the company’, says CEO Øystein Løseth. ‘The goal is to strengthen Vattenfall’s balance sheet position, to increase profit and value creation and to prepare the company for future growth’.
‘After a phase of intensive growth it is now time for consolidation’, says Lars Westerberg, chairman of the Supervisory Board of Vattenfall. ‘Vattenfall will improve its CO2 profile so as to take its place among the leaders in the development of sustainable energy production’.
International cooperation
An organisational structure based on business divisions will take effect on 1 January 2011. All Vattenfall employees will then work together at divisional level in international teams. This means that official country organisations will no longer exist. Naturally the relations with national and local stakeholders will remain unchanged under the new structure.