Lemminkäinen and YIT will complete the merger
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MARKET COURT ORDERS ASPHALT INDUSTRY COMPANIES TO PAY EUR 19.4 MILLION IN FINES, FINE OF EUR 14 MILLION FOR LEMMINKÄINEN
Lemminkäinen Corporation 19 December 2007 Stock Exchange Bulletin By its decision issued today, the Market Court has ordered seven asphalt industry companies to pay a total of EUR 19.4 million in competition infringement fines for circumventing competitio
Lemminkäinen Corporation 19 December 2007 Stock Exchange Bulletin By its decision issued today, the Market Court has ordered seven asphalt industry companies to pay a total of EUR 19.4 million in competition infringement fines for circumventing competition laws. The infringement fine imposed on Lemminkäinen is EUR 14 million. The amount proposed by the Finnish Competition Authority was EUR 68 million. Lemminkäinen will examine the decision and announce its position in a stock exchange bulletin to be issued at 3:00 p.m. this afternoon. Any requests for additional information will be addressed after the announcement. The Market Court is the court of first instance to hear the case. All parties are entitled to appeal the decision to the Supreme Administrative Court. Irrespective of any appeal, the competition infringement fine imposed on Lemminkäinen by the Market Court will be recognised as expenditure in the fourth quarter of the current year. Even so, Lemminkäinen's profit for 2007 will exceed its earnings in 2006. Lemminkäinen Corporation Juhani Sormaala Managing Director DISTRIBUTION: Helsinki Stock Exchange Key media Lemminkäinen Group operates in all areas of the construction sector. Its main business areas are building construction, infrastructure construction, technical building services and building products. Net sales in 2006 were EUR 1,795.9 million, of which international operations accounted for about a third. The Group employs some 9,000 people. Lemminkäinen's main market area is the Baltic rim region, where the Group has established a presence by setting up local subsidiaries, but it also serves customers all over the world in specialised areas of construction. Lemminkäinen´s share is listed on Helsinki Stock Exchange.