LEMMINKÄINEN CORPORATION INVESTOR NEWS 31 JULY 2012 AT 3.45 P.M.
LEMMINKÄINEN BUILDS AN ELITE RESIDENTIAL BUILDING IN ST PETERSBURG
Lemminkäinen has signed a contract to build an eight-storey elite residential building on Krestovsky Island in St Petersburg. The client is Fort Group, a Russian property investment syndicate. The parties have agreed that the contract price will not be disclosed.
The scope of Lemminkäinen's contract includes all of the main works except interior finishing, which will be completed by the future residents. Construction will begin immediately and the building will be completed in 2013.
"Although Lemminkäinen has built residential buildings in St Petersburg since 2005, this is our first external residential construction contract in the city. The client wanted to benefit from Lemminkäinen's high profile as a residential construction expert," says Juha Vättö, Vice President at Lemminkäinen International Operations in Russia.
Vice President, Building Construction, Russia
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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 International Operations. Net sales in 2011 were around EUR 2.3 billion, of which international operations accounted for roughly a third. The Group employs an average of 8,400 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com