18.09.2007, 09:00
Lassila & Tikanoja is acquiring full ownership of environmental technology service provider Salvor Oy. Until now, L&T and the Finnish road enterprise Destia have controlled 50 percent each. L&T is now purchasing Destia’s 50 percent and will gain full control of the company.
At the same time, Salvor’s bentonite business line will be sold to Destia. Destia purchased Salvor’s landfill construction business in June.
Salvor’s present business lines, industrial by-products processing services and soil remediation processing services will be integrated to become part of L&T’s Industrial Services.
- The dissolution of the joint venture was a natural consequence of the structural
rearrangements having taken place in Salvor. Salvor’s landfill construction operations were transferred to Destia in June, and after this we have not had an active ownership interest in the company, says Destia’s CEO Jukka Laaksovirta.
For L&T, the acquisition of Salvor was a natural step to further develop their service offering.
- Salvor’s business operations are fit to supplement L&T’s readiness to create and develop comprehensive environmental management and material efficiency solutions for the industry, says L&T’s CEO Jari Sarjo.
L&T and Destia do not disclose the purchase price.
Additional information:
Jari Sarjo, President and CEO, Lassila & Tikanoja, Tel. +358 500 405 465
Jukka Laaksovirta, CEO, Destia, Tel. +358 40 596 5669
Jukka Saarenpää, CEO, Salvor, Tel. +358 400 940 842