Lassila & Tikanoja expands to Latvia 

LASSILA & TIKANOJA PLC             RELEASE  17 OCTOBER 2003 AT 2.00 PM


LASSILA & TIKANOJA EXPANDS TO LATVIA

Lassila & Tikanoja has acquired A/S Hoetika ATU, a Latvian waste management company. The acquisition supports Lassila & Tikanoja’s strategy to invest in the growing environmental management market in the countries around the Baltic Sea. Until now Lassila & Tikanoja has been operating in the domestic market only.

The nets sales of Hoetika were EUR 7 million in 2002, and it employs 450 persons. Hoetika was founded in 1991, and it is the Latvian market leader in waste collection, transport and recovery. After the acquisition, the company will operate under the name L&T Hoetika.



For more information please contact Martin Forss, Vice President, Corporate Planning and Business Development, phone +358 500 413 621.