Lassila & Tikanoja - Company Announcement

Lassila & Tikanoja plc has redeemed the remaining shares of L&T Biowatti Oy

Helsinki, Finland, 2012-02-09 08:00 CET (GLOBE NEWSWIRE) -- 

Lassila & Tikanoja plc has redeemed the remaining 30 percent of share capital
of L&T Biowatti Oy as agreed in an agreement signed 18 December 2006. 

Lassila & Tikanoja acquired the majority of the share capital of Biowatti Oy
from the acting management of the company in 2006. L&T also made a commitment
to redeem the remaining shares by 28 February 2012. 

In the consolidated financial statements the whole acquisition price (100%) was
recognised as acquisition cost at the time of the agreement. No minority
interest was separated from the profit or equity, but the estimated acquisition
price of the remaining 30 percent was recognised as interest-bearing
non-current liability. 


LASSILA & TIKANOJA PLC


Ville Rantala
CFO


For additional information please contact
Ville Rantala, CFO, Vice President, Renewable Energy Sources, tel. +358 50 385
1442 or 
Keijo Keränen, Head of Treasury and IR, tel. +358 50 385 6957.

Lassila & Tikanoja specialises in environmental management and property and
plant support services and is a leading supplier of wood-based biofuels,
recovered fuels and recycled raw materials. With operations in Finland, Sweden,
Latvia and Russia, L&T employs 9,500 persons. Net sales in 2011 amounted to EUR
652 million. L&T is listed on NASDAQ OMX Helsinki. 

Distribution:
NASDAQ OMX Helsinki
Major media
www.lassila-tikanoja.com