Lemminkäinen acquires specialist road surface milling company in Denmark
LEMMINKÄINEN CORPORATION INVESTOR NEWS 7 MAY 2013 AT 2.00 P.M.
LEMMINKÄINEN ACQUIRES SPECIALIST ROAD SURFACE MILLING COMPANY IN DENMARK
On 2 May 2013, Lemminkäinen acquired an 80 per cent holding in the Danish company FD-Entreprise. Frank Daugard, the company's founder and former owner, retains the remaining 20 per cent and will continue as managing director. The parties have agreed not to disclose the contract price.
FD-Entreprise was established in 2006 and specialises in the milling of asphalt and concrete road surfaces. The company's net sales in 2012 were EUR 3.4 million. The company primarily operates in eastern Denmark, where it is the largest player. The acquisition will double Lemminkäinen's market share in road milling in Denmark and expand the company's market area to cover the entire country. FD-Entreprise' approximately twenty employees will remain with the company under their previous terms of employment.
The acquired company will be merged into Lemminkäinen's Danish subsidiary during 2017.
Henrik Eklund, Executive Vice President, International Operations
Tel. +358 (0)2071 53313
NASDAQ OMX Helsinki
Lemminkäinen Group operates in all areas of the construction sector. The Group's business segments are building construction, infrastructure construction, technical building services and international operations. Net sales in 2012 were about EUR 2.3 billion, of which international operations accounted for roughly 40 per cent. The Group employs an average of 8,200 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com