Tallinn, Estonia, 2017-07-26 07:30 CEST (GLOBE NEWSWIRE) --
On 25th June 2017, Tallinna Teede AS, part of Merko Ehitus group, and its 100% subsidiary, AS Vooremaa Teed have signed a merger agreement with the intention to improve the internal efficiency.
According to the merge agreement, the acquiring company is Tallinna Teede AS. Because of the merge AS Vooremaa Teed will wind up without liquidation proceedings. The merge date is 1st of August 2017 after which all AS Vooremaa Teed transactions will be deemed to be made on the account of Tallinna Teede AS.
This transaction does not have any effect on AS Merko Ehitus group consolidated profit, assets or liabilities.
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.