Publication of Lemminkäinen Corporation's Financial Statements bulletin for the year 2017
LEMMINKÄINEN CORPORATION PRESS RELEASE 13.10.2010, 12.00 NEW ACQUISITION WILL STRENGTHEN LEMMINKÄINEN´S RESOURCES IN THE PRODUCTION OF PRECAST CONCRETE ELEMENTS Lemminkäinen Rakennustuotteet Oy has today signed an agreement to acquire full ownership of Suonenjoen Sementtituote Oy. The sellers are Timo Venho and Arja, Raimo, Tommi and Jani Räsänen. The acquisition will strengthen Lemminkäinen's resources in the production of precast concrete elements. The parties have agreed not to disclose t
LEMMINKÄINEN CORPORATION PRESS RELEASE 13.10.2010, 12.00 NEW ACQUISITION WILL STRENGTHEN LEMMINKÄINEN´S RESOURCES IN THE PRODUCTION OF PRECAST CONCRETE ELEMENTS Lemminkäinen Rakennustuotteet Oy has today signed an agreement to acquire full ownership of Suonenjoen Sementtituote Oy. The sellers are Timo Venho and Arja, Raimo, Tommi and Jani Räsänen. The acquisition will strengthen Lemminkäinen's resources in the production of precast concrete elements. The parties have agreed not to disclose the transaction price. Suonenjoen Sementtituote Oy's precast concrete element factory is located in Suonenjoki, next door to Lemminkäinen's own precast concrete element factory. The company's net sales in 2010 are estimated to be approx. EUR 1.5 million. It employs 11 people, who will be transferred to Lemminkäinen's service as existing employees. According to preliminary plans, the company will merge with Lemminkäinen Rakennustuotteet Oy during the first quarter of 2011. In connection with the acquisition, Lemminkäinen Rakennustuotteet Oy has made a preliminary agreement with the City Of Suonenjoki concerning the sale of property owned by Suonenjoen Sementtituote Oy to the city. According to the preliminary agreement, Lemminkäinen will rent the premises for its own use on the basis of a long-term lease. "The pick-up in housing construction has increased the demand for precast concrete staircase and façade elements. The agreements in question will enable the long-term development of our operations in Suonenjoki, " says Director Risto Wuorio of Lemminkäinen. The agreement to acquire Suonenjoen Sementtituote Oy is conditional upon the approval of both the Board and Council of the City of Suonenjoki for the associated property transaction. The deals are expected to be closed before the end of the year. LEMMINKÄINEN CORPORATION Corporate Communications Additional information: Risto Wuorio Director, Lemminkäinen Rakennustuotteet Oy Tel. 02071 53801 DISTRIBUTION: NASDAQ OMX Helsinki Ltd Key media www.lemminkainen.com Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction, Technical Building Services, and Building Products. Net sales in 2009 were approx. EUR 2.0 billion, of which international operations accounted for over a quarter. The Group employs about 8,600 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com