Lemminkäinen will record non-recurring items for the divestment of Lemcon Network’s American businesses
LEMMINKÄINEN CORPORATION INVESTOR NEWS 4 SEPTEMBER 2014 AT 10.10 A.M.
LEMMINKÄINEN WILL RECORD NON-RECURRING ITEMS FOR THE DIVESTMENT OF LEMCON NETWORK’S AMERICAN BUSINESSES
Lemminkäinen published an investor news bulletin on 30 April, 2013 regarding the divestment of Lemcon Networks’ businesses in the Americas to Blue Skies Networks, LLC. Blue Skies Networks has now informed Lemminkäinen that it cannot meet its obligations related to the divestment. As a consequence thereof Lemminkäinen will record non-recurring items worth at most EUR 8 million in the third quarter.
The write down does not affect Lemminkäinen’s guidance that was published on 30 July, 2014.
Lemminkäinen started in the beginning of 2014 a programme to improve its competitiveness, profitability and financial status. According to the strategy published in July 2014, the Company will focus on infrastructure construction in Northern Europe and building construction in Finland and Russia.
Ilkka Salonen, CFO
Tel. +358 2071 54524
Katri Sundström, Head of Investor Relations
Tel. +358 2071 54813
NASDAQ OMX Helsinki
Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ about 6,000 professionals. In 2013, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com