Lemminkäinen Corporation and Asfaltkvalité Mellansverige AB are to sell their
jointly owned Swedish asphalt paving company Kvalitetsasfalt i Mellansverige AB
to the Swedish company Peab Asfalt AB. Lemminkäinen has an 87 % stake in
Kvalitetsasfalt i Mellansverige AB. A letter of intent concerning the sale of
the company was signed on 17.4.2007, and the Due Diligence process is now under
way. Completion of the deal is subject to the approval of the Swedish
- The company has not achieved the targets that Lemminkäinen sets for its
business units in the Baltic Rim region, says the Head of Lemminkäinen's Paving
and Mineral Aggregates Division, Mr. Henrik Eklund.
Kvalitetsasfalt I Mellansverige AB has belonged to Lemminkäinen Group since
2000. In 2006 the company generated net sales of EUR 20.5 million and employed
an average workforce of 66 people.
The transaction will not have any effect on Lemminkäinen Group´s result.
Chief Information Officer
Head of the Paving and Mineral Aggregates Division
Tel. +358 40 563 7811
Lemminkäinen's Paving and Mineral Aggregates Division is an asphalt paving and
road improvement contractor as well as a producer of mineral aggregates and
ready-mix concrete. The Division also carries out year-round highway maintenance
contracts and offers environmental engineering products and services. The
Division operates mainly in the Baltic Rim region and derives roughly half of
its business from international operations.
Lemminkäinen Group operates in all areas of the construction sector. Its main
business areas are building contracting, infrastructure construction, the
building materials industry and technical building services. Net sales in 2006
were EUR 1,795.9 million, of which international operations accounted for about
a third. The Group employs some 8,500 people. Lemminkäinen's share is listed on
Helsinki Stock Exchange.