Lemminkäinen and Citycon sign an extensive upkeep and maintenance services contract
LEMMINKÄINEN CORPORATION INVESTOR NEWS 28 DECEMBER 2012 AT 2:00 PM
LEMMINKÄINEN AND CITYCON SIGN AN EXTENSIVE UPKEEP AND MAINTENANCE SERVICES CONTRACT
Lemminkäinen and Citycon have signed a nationwide property upkeep and maintenance services contract. The partnership begins on 1 February 2013 and will continue for a number of years. The parties have agreed not to disclose the contract price.
The contract covers basic maintenance, scheduled technical maintenance, as well as repair and alteration services. The contract also enables Lemminkäinen to provide Citycon with additional services. Lemminkäinen will be responsible for the maintenance services for all Citycon's large shopping centres and retail properties, numbering 47 across Finland.
"We are very pleased that Citycon has chosen us as their service provider. Our goal is to increase the value and lifecycle of their properties. Timely maintenance improves property conditions and user comfort, and reduces energy consumption," says Lemminkäinen's Executive Vice President Marcus Karsten.
"Citycon's objective is to ensure high-quality, competitive maintenance services for our retail properties and a level of service that meets our leaseholders' expectations. Having effected a robust bidding process for our property maintenance services, we now have partners that have the ability to provide us with a professional service," says Marko Juhokas, Citycon's Senior Vice President, Finnish Operations.
An amendment to Lemminkäinen's strategy, adopted in 2011, states that the company will strengthen its upkeep and maintenance services for technical building services in Finland. Lemminkäinen seeks to increase the share of service operations in this business segment's turnover to about 50 per cent by the end of 2013.
Executive Vice President, Technical Building Services
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Lemminkäinen Group operates in all areas of the construction sector. The Group's operations are organised into four business segments: building construction, infrastructure construction, technical building services and international operations. Net sales in 2011 were about EUR 2.2 billion, of which international operations accounted for roughly a third. The Group employs 8,000 people on average. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com