LEMMINKÄINEN CORPORATION PRESS RELEASE 22.4.2010, 9.15
LEMMINKÄINEN STRENGTHENS ITS POSITION ON NORWAY'S INFRASTRUCTURE MARKET
On 21 April 2010 Lemminkäinen acquired a 75% majority interest in Asfalt Remix
AS, a Norwegian infrastructure construction company, from Brynildsen Holding
AS. Lemminkäinen has an option to acquire the remainder of the company's
shares. The parties have agreed not to disclose the transaction price.
Asfalt Remix AS specialises in the cold milling of asphalt pavement. The
company operates mainly in the southern region of Norway.
"Nordic infrastructure construction is one of our strategic growth areas. This
acquisition augments the service offering of our paving operations in Norway,
where we did not have our own milling machines earlier," says the Managing
Director of Lemminkäinen Infra Oy, Henrik Eklund.
Asfalt Remix has formerly acted as Lemminkäinen's subcontractor in milling
works. In 2009 the company generated net sales of approx. EUR 8 million and
employed about 25 people. The company will continue its operations as a
subsidiary of Lemminkäinen Norge AS, and Per Brynildsen will stay on as the
company's managing director and minority interest holder.
Lemminkäinen has been in the paving and mineral aggregates business in Norway
since 2001. Lemminkäinen Norge AS's net sales in 2009 were approx. EUR 120
The entry into force of the agreement requires the approval of the Norwegian
Lemminkäinen Infra Oy
Tel. +358 40 563 7811
NASDAQ OMX Helsinki Ltd
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 Ltd. www.lemminkainen.com