Lemminkäinen strengthens its market position in earthworks and foundation engineering
1/3/2013 4:00 AM EST
Lemminkäinen
Investor News
Lemminkäinen strengthens its market position in earthworks and foundation
engineering
LEMMINKÄINEN CORPORATION PRESS RELEASE 3 JANUARY 2013 AT 11
A.M
LEMMINKÄINEN STRENGTHENS ITS MARKET POSITION IN EARTHWORKS AND FOUNDATION
ENGINEERING
On 2 January 2013, Lemminkäinen acquired the capital stock in four companies
operating in earthworks and foundation engineering business with two
acquisition agreements. All of the parties have agreed not to disclose the
transaction prices.
The first acquiree is Biomaa Oy, a company established in 1994 that specialises
in mass stabilisation and the treatment of contaminated soil. The company is
located in Nurmijärvi. The company's management and 12 employees will continue
in their positions under their previous terms of employment.
Lemminkäinen has also acquired the capital stock in three other companies:
Maanrakennus Katupojat Oy, established in 1995, Bergqvist Oy, established in
1959 and Kuljetus Oy Wilkman, established in 1977. These companies, located in
Tuusula, were previously owned by a single individual. The acquirees engage in
earthwork contracting, regional development, energy network construction and
transport as well as the winter and summer maintenance of roads in Southern
Finland. The companies' management and 78 employees will continue in their
positions under their previous terms of employment.
The acquired companies will be merged into Lemminkäinen's Infrastructure
Construction business segment during 2013.
"These acquisitions strengthen our market position in earthworks and
particularly in the construction of energy networks and road network
maintenance in Southern Finland. In addition, they complete our expertise in
contaminated soil treatment in Finland and foundation engineering in the entire
Baltic Sea area," says Harri Kailasalo, Executive Vice President, Lemminkäinen.
LEMMINKÄINEN CORPORATION
Corporate Communications
ADDITIONAL INFORMATION:
Harri Kailasalo, Executive Vice President
Infrastructure Construction business segment
Tel. +358 2071 53394
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.lemminkainen.com
Lemminkäinen Group operates in all areas of the construction sector. The
Group's operations are organised into four business segments: building
construction, infrastructure construction, technical building services and
international operations. Net sales in 2011 were about EUR 2.2 billion, of
which international operations accounted for roughly a third. The Group employs
8,000 people on average. Lemminkäinen Corporation's share is quoted on NASDAQ
OMX Nordic Exchange Helsinki. www.lemminkainen.com