Lemminkäinen - Company Announcement

Lemminkäinen divests its roofing operations to Axcel

LEMMINKÄINEN CORPORATION     STOCK EXCHANGE RELEASE       15 DECEMBER 2010 AT
12.50 P.M. 

LEMMINKÄINEN DIVESTS ITS ROOFING OPERATIONS TO AXCEL

Lemminkäinen and Axcel, a Nordic private equity fund with offices in Stockholm
and Copenhagen, have today signed a business purchase agreement of the assets
of Lemminkäinen's roofing operations. The transaction price is approximately
EUR 25 million, which will yield approximately EUR 17 million capital gain. The
transaction will require regulatory approvals from the Finnish competition
authorities, and is expected to be finalized in the first quarter of 2011. 

The roofing business is part of Lemminkäinen's Building Products business
sector, and comprises of manufacturing Kerabit shingles and bitumen membranes
as well as related contracting services. The estimated 2010 net sales of the
business is approximately EUR 60 million, and the business has some 400
employees on average. "The divestment is in line with our strategic goals: to focus on selected
growth businesses and to streamline our corporate structure and offering", says
President and CEO Timo Kohtamäki. "The Scandinavian roofing markets are very
fragmented. Achieving significant growth with our current roofing business
would have required major investments. We believe that the business has much
better growth and development opportunities under a more focused ownership."

Axcel, which was founded in 1994, focuses on developing medium-sized Nordic
companies. Axcel announced in the beginning of December 2010 that it has
acquired the roofing operations of the Swedish industrial company Trelleborg. 


LEMMINKÄINEN CORPORATION
Corporate Communications


ADDITIONAL INFORMATION:
President & CEO Timo Kohtamäki
Lemminkäinen Corporation
Tel. +358 2071 53263

CFO Robert Öhman
Lemminkäinen Corporation
Tel. +358 2071 53515

Director Vilhelm Sundström
Axcel
Tel: +46 8442 5390


DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Key media
www.lemminkainen.com


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. Net sales in
2009 were approx. EUR 2.0 billion, of which international operations accounted
for over a quarter. The Group employs about 8,600 people. Lemminkäinen
Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com 

Axcel was founded in 1994 and now has a wide range of Nordic and international
investors. Axcel focuses on medium-sized companies in the Nordic region. Axcel
has a total committed capital of approximately SEK 12 billion via four private
equity funds. With 35 investments, Axcel has made more investments in
medium-sized Danish companies than any other private equity fund in Denmark. So
far, 19 of the companies in which Axcel has invested have been further
developed and sold. Today Axcel's investments comprise 16 companies with an
overall turnover of approximately SEK 16 billion and 13.000 employees. Since
its inception, Axcel has built a comprehensive industrial network, not least by
making around 40 major international add-on acquisitions. www.axcel.dk