Stock Exchange Releases
Tulikivi Corporation has today, 30 June 2011, signed an agreement with Vientikivi Oy Finland on the sale of Tulikivi’s Taivassalo-based building stone business. The agreement covers Tulikivi Corporation’s building stone business at its Taivassalo factory, comprising building stones, environmental stones and semi-finished products.
The impact of this transaction on Tulikivi Corporation’s net sales in the latter part of year 2011 will be about EUR -0.6 million. Otherwise the transaction and other arrangements attached to it do not have significant impact on the Group’s financial result for the year 2011. The net sales of Tulikivi Corporation’s building stone business in 2010 amounted to EUR 1.2 million, and the business posted a loss for the year.
A part of the personnel at the Taivassalo factory will be employed by the new owner as existing employees.
“The transaction is part of Tulikivi Group’s profitability programme. In line with our strategy, the aim is to concentrate on our core business: fireplaces, saunas and interior stone products,” says Heikki Vauhkonen, Managing Director of Tulikivi Corporation.
Tulikivi Group’s natural stone products business will focus on interior stone production at the Espoo factory. Tulikivi manufactures and markets products such as countertops and tiling for homes as well as paving stones. Soapstone interior and building stones will also play a significant role in the company’s portfolio in the future.
Vientikivi Oy Finland is a stone company established in 1932 and based in southwest Finland.
Distribution: NASDAQ OMX Helsinki Ltd, key media, www.tulikivi.com
Further information: Tulikivi Corporation, FIN-83900 Juuka, Finland, tel. +358 (0)207 636 000, www.tulikivi.com
– Managing Director Heikki Vauhkonen