LEMMINKÄINEN CORPORATION PRESS RELEASE 27.12.2010 AT 12.00 P.M.
Lemminkäinen makes donations to university activities
The Board of Directors of Lemminkäinen Oyj has decided to donate EUR 200,000 to the operation of Finnish universities: EUR 100,000 has been donated to Tampere University of Technology Foundation and EUR 100,000 to Aalto University Foundation. The donations were made in December 2010.
"We want to contribute to the development of top-quality Finnish expertise and the strengthening of future competitiveness," says Timo Kohtamäki, President and CEO of Lemminkäinen. "The Faculty of Built Environment of the Tampere University of Technology is an excellent, long-standing partner of ours. Moreover, the strategic focus area of the Aalto University, a human-centric living environment, is a perfect match for the aims and values of Lemminkäinen."
The donations are pursuant to the new Universities Act, which entered into force at the beginning of 2010. According to the Act, universities can now acquire private funding. The Finnish Government has pledged to invest 2.5 the amount raised from other sources by foundation-based universities this year.
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Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction, Technical Building Services, and Building Products. As of 1 January 2011, the operations of Building Products will be transferred to the Infrastructure Construction business sector. Lemminkäinen's net sales in 2009 were approx. EUR 2.0 billion, of which international operations accounted for about one fifth. The Group employs some 8,600 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com