Lemminkäinen Group

Lemminkäinen Group was a Finnish company that operated in the construction industry. Its business areas were building construction and infrastructure construction. The company operated in Finland, Scandinavia, Baltic countries and Russia.

Lemminkäinen
TypePublic company
Nasdaq Helsinki: LEM1S
IndustryConstruction
Founded1910
Defunct2018
Headquarters
Helsinki
,
Finland
Key people
Casimir Lindholm (Chief executive officer)
Services
RevenueIncrease 2 044.5 million € (2014) [1]
Increase 36.3 million € (2014) [1]
Number of employees
4 748 (2014) [1]

Lemminkäinen was merged with YIT in February 2018.

The company is named after the Finnish mythological figure Lemminkäinen.

Controversies

Lemminkäinen and seven smaller companies were convicted of forming a price cartel to overcharge local authorities millions of euros for road paving work (asphalt). In 1999 the Supreme Administrative Court of Finland ruled that the companies colluded on prices and other matters at least between 1994 and 2002. Helsinki District Court was in November 2013 ordered the companies to pay the largest damages in Finnish legal history: 40m euros to forty Finnish municipalities.[2] The Finnish Competition and Consumer Authority announced on 3 June 2014 that it would approve the deal.[3]

References
  1. "Lemminkäinen's financial statement bulletin 1 Jan - 31 Dec 2014". Lemminkäinen. 2015-03-24. Retrieved 2015-10-06.
  2. Asphalt cartel firms ordered to pay 40m euros in damages yle 28.11.2013
  3. "Kilpailu- ja kuluttajavirasto". Kilpailu- ja kuluttajavirasto (in Finnish). Retrieved 2022-08-02.
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