CONSTI GROUP PLC STOCK EXCHANGE RELEASE 13 NOVEMBER 2018, at 4.15 p.m.
Consti is negotiating on the renovation of Myllypuro comprehensive service centre
Consti is negotiating on the renovation of Myllypuro comprehensive service centre located in Helsinki. On 13 November 2018, the Board of Helsingin Kaupungin Asunnot Oy made an investment decision on the renovation of Myllypuro comprehensive service centre. The preliminary contract price for the project is approximately EUR 25 million and it includes complete renovation of the building. The project is commissioned by Helsingin kaupungin asunnot Oy.
Work is estimated to start on the site in spring 2019, and the project is estimated to be completed during 2021. The work will be conducted under a fixed-price full contract (design-bid-build).
The parties aim to sign the final contract by the end of 2018. The realisation of the contract is conditional i.a. on the approval of Housing Finance and Development Centre of Finland.
The project will cover a gross area of approximately 16,700 m2. The building was completed in 1970 serving originally as Myllypuro's hospital taking care mainly of long-term patients. There have been many changes and repairs over the years and from 2013 onwards, the premises have been used bycomprehensive service centre providing day activities and serviced accommodation for elderly people. The purpose of the building will not change as a result of the renovation.
If realised, the project will strengthen Consti's order book for 2019 - 2021. The project will be recognised in Consti's order backlog after the final contract has been signed.
According to Consti's disclosure policy, significant projects, as well as service and maintenance agreements are disclosed. According to the policy, threshold for disclosing a project is EUR 20 million.
CONSTI GROUP PLC
Further information:
Esa Korkeela, CEO, Consti Group Plc, Tel. +358 40 730 8568
Risto Kivi, CEO, Consti Julkisivut Oy, tel. +358 40 044 1141
Distribution:
Nasdaq Helsinki Ltd.
Major media
www.consti.fi
Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive building technology, pipeline renovation, renovation contracting, façade renovation and other demanding construction and maintenance services for residential and commercial buildings. In 2017, Consti Group's net sales amounted to 300 million euro. It employs over 1,000 professionals in renovation construction and building technology.
Consti Group Plc is listed on Nasdaq Helsinki. The trading code is CONSTI. www.consti.fi