Sponda Plc Stock Exchange Release 27 October 2009 at 11.00 am
Sponda to build production premises for Metso in Hakkila, Vantaa
Property investment company Sponda Plc and Metso Automation Inc. have signed an
agreement for production premises to be built in Hakkila, Vantaa. The new
building, with a floor area of some 22,000 square metres, will be erected beside
the Honkatalo logistics centre owned by Sponda at Vanha Porvoontie 229 in
Vantaa. The new building will be leased in its entirety to Metso Automation's
business line with a long-term, 15 year lease.
Sponda is also leasing to Metso some 12,000 square metres of office and
warehouse premises in the Honkatalo office building next to the new building.
Almost the entire office building will be occupied by Metso.
Overall costs for Sponda for the investment are estimated at about EUR 40
million, and this will be financed by the sale of property. Construction work on
the new building is expected to begin in January 2010, and the project should be
completed by the end of 2010. The new build investment meets the profitability
targets set by Sponda for its development projects.
Metso Automation is transferring to the business premises in the Honkatalo area
its
business operations currently in the Roihupelto district of Helsinki, including
those in the production property in the Tulppatie road owned by Sponda.
“The new premises will provide considerably better facilities for our business
operations. We will enhance the production process and logistics for industrial
valves for demanding applications, and we will be able to strengthen the flow of
information. The new premises are also a positive signal to our personnel; we
will continue to serve our customers from Finland, especially those in Europe,”
states President Markku Simula, who is responsible for Metso's valve business.
Juhani Paajanen, Mayor of the City of Vantaa, considers that Metso's move to
Hakkila reinforces the importance of the area as a logistics, industrial and
retail centre mid-way between Helsinki-Vantaa airport and Vuosaari Harbour. “The
city is working closely with business and landowners in the Vantaan Akseli
(Vantaa Axis) project to develop facilities and infrastructure in the area for a
wide range of business,” says Paajanen.
“Sponda owns altogether some 67,500 square metres of logistics premises in the
Hakkila business centre, and still has scope for further building in the area,
in addition to the current project. The agreement signed will have a positive
impact on our occupancy rates,” says Perttu Hokkanen, regional manager
responsible for logistics properties at Sponda.
Sponda Plc
Further information:
Kari Inkinen, President and CEO, tel. +358 400 402 653
Markku Simula, President, Flow Control,Automation business line, Metso,
tel.+358 40 579 8128
Sponda Plc is a real estate investment company specializing in commercial
properties in the largest cities in Finland and in Russia. Sponda's business
concept is to own, lease and develop office, retail and logistics properties
into environments that promote the business success of its clients. The fair
value of Sponda's investment properties is approximately EUR 2.8 billion euros
and the leasable area is around 1.5 million m².