Lehto Group Plc
Stock exchange release
20 June, 2022 at 5.00 p.m. (EET)
On March 11, 2021, Lehto Group Plc announced that its subsidiary Lehto Tilat Oy
had been selected to be responsible for the design and construction of the multi
-space office building in Tikkurila, Vantaa, as a turnkey project. Lehto's
contract price was approximately EUR 58 million, and as part of the project
Lehto also planned to build approximately 100 apartments as developer
contractor.
In its January-March 2022 business review, Lehto said that the company is in
negotiations to terminate some business premises projects due to significantly
increased material costs. Lehto has been negotiating with the City of Vantaa to
terminate the agreements related to the multi-space office project, and the
Vantaa City Government has today authorized the city management to negotiate
more detailed principles for terminating the implementation agreement. The
company is continuing negotiations with the City of Vantaa on the details of
termination.
The estimated financial effects related to the termination of the agreement have
been taken into account in the company's previously published financial outlook
for 2022.
Further information:
Matti Koskela
EVP, Business Premises, Lehto Group Plc
Tel. +358 40 557 6520