Tallinn, Estonia, 2017-06-14 15:30 CEST (GLOBE NEWSWIRE) --
On 13th June 2017, AS Vooremaa Teed, 100% subsidiary of Tallinna Teed AS part of Merko Ehitus group, and Eesti Keskkonnateenused AS have entered sales and purchase agreement to dispose AS Vooremaa Teed’s road maintenance field of activity.
The largest contract under disposal of the field of activity is with Estonian Road Administration signed in 2015. Under the contract AS Vooremaa Teed performs the road and maintenance works of main roads in Viljandi county in total annual value approximately 1.8 million euros and with the term till 31 December 2020.
The parties do not disclose the transaction price. The completion of the transaction is depending on the approval of Estonian Competition Authority and conditions and is planned to be completed during 3rd quarter 2017. AS Vooremaa Teed carries out its regular business till then.
AS Vooremaa Teed carries out road maintenance and repair works mainly in the central and eastern part of Estonia. Tallinna Teede AS performs project management and provides workforce for all road maintenance countrywide, builds road structures and the associated infrastructure, performs maintenance repair, road surface dressing and provides road maintenance services. The company also produces different mixtures in its own asphalt plant.
Additional information: Tallinna Teede AS, Chairman of Management Board Mr. Jüri Läll, phone +372 606 1900.
Merit Kullasepp
Communication and Marketing Manager
AS Merko Ehitus
Phone: +372 650 1250
E-mail: merit.kullasepp@merko.ee
AS Merko Ehitus (group.merko.ee) group consists of Estonia’s leading construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA Merks, UAB Merko Statyba that is operating on the Lithuanian market, construction company Peritus Entreprenør AS in Norway and the real estate development business unit along with real estate holding companies. As at the end of 2016, the group employed 797 people and the company’s 2016 revenue was EUR 252 million.