Publication of Lemminkäinen Corporation's Financial Statements bulletin for the year 2017
LEMMINKÄINEN CORPORATION Oka Oy of Lemminkäinen's Palmberg Group is acquiring Rakennusliike Sulo Lipsanen Oy, a building firm based in the Eastern Finnish city of Imatra. The acquisition will be completed in autumn 2007. Rakennusliike Sulo Lipsanen Oy was founded in 1973. The company operates as a new building and refurbishment contractor and developer. Rakennusliike Sulo Lipsanen Oy operates mainly in the Imatra region, but der
LEMMINKÄINEN CORPORATION Oka Oy of Lemminkäinen's Palmberg Group is acquiring Rakennusliike Sulo Lipsanen Oy, a building firm based in the Eastern Finnish city of Imatra. The acquisition will be completed in autumn 2007. Rakennusliike Sulo Lipsanen Oy was founded in 1973. The company operates as a new building and refurbishment contractor and developer. Rakennusliike Sulo Lipsanen Oy operates mainly in the Imatra region, but derives some 30 per cent of its net sales from Svetogorsk and St. Petersburg in Russia. The company's business operations in St. Petersburg have involved the construction of own housing developments in partnership with StP-Rakennus Oy, a joint venture of Oka Oy and Rakennuspartio Oy. Rakennusliike Sulo Lipsanen Oy has 11 salaried employees and an average of 35 hourly paid workers on the payroll. The company generated net sales of approx. EUR 7 million in 2006. - The acquisition will strengthen the operational prerequisites of the Group's building contracting in the Imatra region and in Russia, says the Managing Director of Oy Alfred A. Palmberg Ab, Mr. Risto Bono. LEMMINKÄINEN CORPORATION Corporate Communications ADDITIONAL INFORMATION: Managing Director Risto Bono Oy Alfred A. Palmberg Ab Tel. +358 400 100 505 Managing Director Jorma Tamminen Oka Oy Tel. +358 40 765 6800 Oka Oy, a subsidiary of Lemminkäinen Group's specialist building contractor, the Palmberg Group, operates all over southern Finland. The company's new building and refurbishment contracting includes competitive tender contracting as well as commercial and industrial developments. Oka Oy was founded in 1987 and has been a Palmberg Group company since 1995. In 2006 the company generated net sales of approx. EUR 170 million and employed some 500 people. Lemminkäinen Group operates in all areas of the construction sector. Its main business areas are building contracting, infrastructure construction, the building materials industry and technical building services. Net sales in 2006 were EUR 1,795.9 million, of which international operations accounted for about a third. The Group employs some 8,500 people. Lemminkäinen's share is listed on Helsinki Stock Exchange.