LEMMINKÄINEN CORPORATION PRESS RELEASE 25 NOVEMBER 2010 AT 3.00 P.M.
LEMMINKÄINEN WINS A EUR 45 MILLION CONTRACT FOR LKAB IN KIRUNA
Lemminkäinen has won a contract worth approximately EUR 45 million from LKAB,
involving work and mine tunnel construction for the company's mine in Kiruna,
Sweden. The work will start in February 2011 and is expected to be completed
during the latter half of 2014.
The work will be carried out by Lemminkäinen Sverige AB. The "Sjömalmen"
project involves a total of over 21 kilometres of various reinforced tunnels
which serve the iron ore production of one of the world's largest underground
mines. The deepest tunnels to be excavated will reach a depth of 1,365 metres.
"This contract will strengthen our established position in the Swedish rock
construction market and in the mine excavation sector in northern Sweden in
particular," says Kari J Korhonen, Regional Director of Swedish rock
construction in Lemminkäinen Infrastructure Construction.
Lemminkäinen won the first excavation contract from LKAB's Kiruna iron ore mine
in March 2010. That contract, involving the excavation of work tunnels over a
total distance of two kilometres, will be completed in December and the option
for the next two-kilometre contract was ordered in the beginning of November.
These previous contracts amount to a total of approximately EUR 10 million.
LKAB is Europe's leading producer of iron ore products for the steel industry.
LKAB's net sales in 2009 amounted to some EUR 1,127 million and the company
employs over 3,700 people.
Regional Director Kari Korhonen
Lemminkäinen Infra Oy
Tel. +358 2071 53420
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 over a quarter. The Group employs about 8,600 people. Lemminkäinen
Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com