Lemminkäinen strengthens its market position in earthworks and foundation engineering
LEMMINKÄINEN CORPORATION PRESS RELEASE 3 JANUARY 2013 AT 11 A.M
LEMMINKÄINEN STRENGTHENS ITS MARKET POSITION IN EARTHWORKS AND FOUNDATION ENGINEERING
On 2 January 2013, Lemminkäinen acquired the capital stock in four companies operating in earthworks and foundation engineering business with two acquisition agreements. All of the parties have agreed not to disclose the transaction prices.
The first acquiree is Biomaa Oy, a company established in 1994 that specialises in mass stabilisation and the treatment of contaminated soil. The company is located in Nurmijärvi. The company's management and 12 employees will continue in their positions under their previous terms of employment.
Lemminkäinen has also acquired the capital stock in three other companies: Maanrakennus Katupojat Oy, established in 1995, Bergqvist Oy, established in 1959 and Kuljetus Oy Wilkman, established in 1977. These companies, located in Tuusula, were previously owned by a single individual. The acquirees engage in earthwork contracting, regional development, energy network construction and transport as well as the winter and summer maintenance of roads in Southern Finland. The companies' management and 78 employees will continue in their positions under their previous terms of employment.
The acquired companies will be merged into Lemminkäinen's Infrastructure Construction business segment during 2013.
"These acquisitions strengthen our market position in earthworks and particularly in the construction of energy networks and road network maintenance in Southern Finland. In addition, they complete our expertise in contaminated soil treatment in Finland and foundation engineering in the entire Baltic Sea area," says Harri Kailasalo, Executive Vice President, Lemminkäinen.
Harri Kailasalo, Executive Vice President
Infrastructure Construction business segment
Tel. +358 2071 53394
NASDAQ OMX Helsinki
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