Nurminen Logistics has sold Niirala Terminal to Cemagro Oy and muncipality of Tohmajärvi in accordance with its real estate development strategy. The sales price was 1.25 million euros.
Niirala Terminal has been part of sale and lease back arrangement which Nurminen agreed upon with Ilmarinen Mutual Pension Insurance Company in 2009. In accordance with the mentioned agreement Nurminen will purchase back terminals in Niirala, Vainikkala and Luumäki and by the end of October 2019. With Niirala the transaction was concluded in advance.
This agreement provides Niirala area in Tohmajärvi with growth opportunities and Nurminen will continue to operate as forwarding and terminal operator in the area. This arrangement will have negative impact of 0.5 million euros on Nurminen Logistics’ reported EBIT on the first half of 2019. The positive effect on casf flow is 0.7 million euros. It also improves company’s profitability by reducing property expences.
For more information, please contact: Ville Iho, p. +358 40 539 4450.
Nurminen Logistics is a listed company established in 1886 that offers logistics services. The company provides high-quality forwarding, cargo handling and value added services as well as railway transports and related to it project transport services to its customers. The main market areas of Nurminen Logistics are Finland, Russia and its neighbouring countries.