Lemminkäinen to strengthen position on Kainuu's mineral aggregates market through acquisition
LEMMINKÄINEN CORPORATION PRESS RELEASE 26 May 2011 at 4 p.m.
LEMMINKÄINEN TO STRENGTHEN POSITION ON KAINUU'S MINERAL AGGREGATES MARKET THROUGH ACQUISITION
Today, Lemminkäinen purchased 100% of the shares in Sotkamon Sora ja Sepeli Oy. Established in 1970, Sotkamon Sora ja Sepeli is engaged in earth construction, crushing of mineral aggregates and concrete, selling mineral aggregates and public road maintenance contracting, mainly in the regions of Kajaani and Sotkamo. The company’s net sales in 2010 amounted to some EUR 5 million and it employs 29 people. The parties have agreed not to disclose the transaction price.
The acquired company will become part of Lemminkäinen's Infrastructure Construction business sector.
Through this acquisition, Lemminkäinen will strengthen its position as the economic area's largest mineral aggregates supplier. The transaction will also enable Lemminkäinen to enlarge its earth construction operations in the Kainuu region.
Juhani Innanen, Director
Lemminkäinen Infra Oy
Tel. +358 2071 53537
NASDAQ OMX Helsinki Ltd
Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are building construction, infrastructure construction and technical building services. Net sales in 2010 were around EUR 2.0 billion, of which international operations accounted for roughly a quarter. The Group employs about 8,300 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com