Lemminkäinen to sell its building construction business in Sweden
LEMMINKÄINEN CORPORATION INVESTOR NEWS 5 JUNE 2015 AT 1:00 PM
LEMMINKÄINEN TO SELL ITS BUILDING CONSTRUCTION BUSINESS IN SWEDEN
Lemminkäinen has signed letters of intent regarding the sales of all outstanding shares in its Swedish subsidiary Rekab Entreprenad AB to Rekab’s current management as well as Rekab’s Malmö business to Swedish Wästbygg Group and Rekab’s Uppsala business to Norwegian Veidekke Group. The businesses that will be sold to Rekab’s current management include businesses in the areas of Umeå, Örnsköldsvik and Sundsvall. Lemminkäinen and the buyers have agreed not to disclose the transaction prices. The target is to close all transactions during July. The sales of the businesses in Uppsala and Malmö also require approvals from competition authorities.
Rekab focuses on building construction in selected areas in Sweden. In 2014, the company’s net sales were about EUR 140 million and it employed approximately 240 people. After the transactions, Lemminkäinen withdraws from building construction business in Sweden. Rekab’s business in Luleå and eight employees working there will be incorporated into Lemminkäinen’s Infra projects business segment.
According to its strategy, Lemminkäinen seeks profitable growth over the long term by leveraging on its strong market position in infrastructure construction in Northern Europe. In building construction, the company focuses on the metropolitan areas of Helsinki and St Petersburg.
Ilkka Salonen, CFO
Tel. +358 2071 54524
Katri Sundström, Head of Investor Relations
Tel. +358 2071 54813
NASDAQ OMX Helsinki Ltd
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 5,600 professionals. In 2014, our net sales were about EUR 2 billion. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com