LEMMINKÄINEN CORPORATION INVESTOR NEWS 16 SEPTEMBER 2014 AT 11:30 A.M.
LEMMINKÄINEN AND THE FINNISH PARLIAMENT SIGN AGREEMENT ON THE RENOVATION OF THE PARLIAMENT BUILDING AND ALTERATION OF THE SIBELIUS ACADEMY BUILDING AS TEMPORARY FACILITIES
Lemminkäinen and the Parliament of Finland signed an agreement today whereby Lemminkäinen will renovate the Parliament Building and carry out modifications at the Sibelius Academy building where the Parliament will be relocated for the duration of the renovation. The project will be executed as a target-priced management contract. Lemminkäinen’s total share of the renovation and modification work is EUR 88.7 million, which will be recorded under Lemminkäinen’s order book for the third quarter of 2014.
The complete renovation of the Parliament Building will begin on 13 March 2015 and last until autumn 2017. The modifications to the Sibelius Academy building started in September.
The most demanding parts of the renovation of this listed high-value building will be the expansion of the narrow pipe tunnel in the basement area, which requires excavation in an area sensitive to vibration. Lemminkäinen has taken part in the previous phases of the renovation project, so Lemminkäinen is already familiar with the operating environment and its special features.
The roof will be completely rebuilt, all the windows repaired and the facades of the courtyards rebuilt. The main stairs will also be demolished, their foundation structures renovated and the stairs rebuilt after alignment. Moreover, this is the first time that the HVAC systems of the Parliament Building will be entirely renovated.
During the renovation, Parliament will convene in the Sibelius Academy building, where the concert hall will function as a temporary Session Hall.
The Parliament Building has an abundance of high-value surfaces with special treatment, such as stucco walls and columns, and fixed works of art, such as roof and wall paintings, reliefs and terrazzo works, whose conservation has already begun.
“Both the site and the project are unique in Finland in many ways. The Parliament Building is a unique part of our national treasure, and it is subject to continuous publicity. The museal protection results in its own challenges. The seasons and humidity conditions change during the project, but the indoor conditions must continuously be in such a state that the works of art and special-treated surfaces do not suffer. The schedule of this major project is another challenge; which is why we chose the supplier well in advance in order to ensure a shared clear insight into the details even before the work begins,” says Hannu Peltonen, Project Manager at the Parliament.
Lemminkäinen announced the project in an investor news release on 18 June 2014 and previous underground work in a press release on 25 May 2012.
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Together with our customers we create conditions that make living, working and travelling functional, safe and healthy. We operate in northern Europe and employ approximately 6,000 experts. In 2013, our net sales were about EUR 2.0 billion. Lemminkäinen Corporation’s share is quoted on NASDAQ OMX Nordic Exchange Helsinki. www.lemminkainen.com