LEMMINKÄINEN CORPORATION PRESS RELEASE 4.5.2010, 11.00
LEMMINKÄINEN CONSOLIDATES ITS POSITION ON NORWAY'S INFRASTRUCTURE CONSTRUCTION
Lemminkäinen has acquired a 90.1% majority interest in Risa Rock AS, a
subsidiary of the Norwegian Risa Group.
Established in 2007, Risa Rock is a tunnel excavation company operating
"Acquisition of Risa Rock supports Lemminkäinen's strategy aiming at entering
the Norwegian rock excavation market," says Henrik Eklund, Managing Director of
Lemminkäinen Infra, explaining the developments leading up to the deal.
Infrastructure construction in Nordic countries is one of the focus areas in
Lemminkäinen's current strategy. Lemminkäinen has been involved in the rock
excavation business in Sweden since 1994.
Risa Rock AS's net sales in 2009 totalled EUR 16 million and the company
employed around 20 people. The company will continue its operations as
Lemminkäinen Norge AS's subsidiary. A minority stake in the company will be
held by the executive management, and Hans Olav Storkås will continue to serve
as its Managing Director.
Lemminkäinen has been involved in infrastructure construction in Norway since
2001. Lemminkäinen Norge AS's net sales in 2009 reached around EUR 120 million.
The acquisition awaits regulatory approval by the Norwegian competition
Managing Director Henrik Eklund
Lemminkäinen Infra Oy
Tel. +358 40 563 7811
NASDAQ OMX Helsinki Oy
Major news media
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 about one fifth. The Group employs about 8,600 people. Lemminkäinen
Corporation's share is quoted on NASDAQ OMX Helsinki Oy stock exchange.