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Nurminen sells projects business

September 11 - Finland's Nurminen Logistics has concluded an agreement to sell its specialised transport division, Nurminen Logistics Heavy, to heavy haulage and project forwarding company Ville Silvasti.

Nurminen explained that the project transport business currently under contract to Nurminen Logistics Heavy will remain in the hands of Nurminen Logistics, while the Finnish company will also maintain ownership over its heavy cargo handling hub at the Vuosaari terminal in Helsinki.

"This arrangement will strengthen Nurminen Logistics' financial structure, clarify the company's service offering and provide even better opportunities for developing core business operations.

"In future, we will focus on providing forwarding, terminal and value added services in Finland's most important import and export ports and border-crossing points, on railway logistics in Finland, Russia and CIS area and on project transport business," commented Nurminen Logistics president and ceo, Marko Tuunainen.

The transaction, which becomes effective October 1, 2015, will not have any impact on customer agreements, and operations will continue in the same way under the new owner, said Nurminen, adding that the handover will also have no impact on the present employees of Nurminen Logistics Heavy. The name of the business unit is likely to change, however.

Hannu Vuorinen, senior vice president of Nurminen Logistics Heavy, will continue to head up the subsidiary during the transaction.

Ville Silvasti commented that the deal will grow its 2015 turnover to EUR20 million (USD22.5 million) and increase its staff to around 50 employees. The purchase will transform Ville Silvasti into the largest company in Finland to offer specialised transport services, added Nurminen.

www.nurminenlogistics.com

www.silvasti.com

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