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Lemminkainen Oyj Divests Lemcon Networks' Asian Business to United Telecom International

Wednesday, 30 Jan 2013 07:00am EST 

Lemminkainen Oyj (Lemminkainen) announced that Lemminkainen and United Telecom International, a Taiwanese developer for repair technology of telecommunications (telecom) networks, have signed a share purchase agreement for all outstanding shares in Lemcon Networks' (Lemcon's) subsidiaries engaged in mobile telecom network projects business in Asia. After the transaction all telecom network operations of Lemminkainen in Asia will be taken over by United Telecom International. The parties have agreed not to disclose the transaction price. The transaction will be completed after local authority approvals have been obtained. The divested subsidiaries have been part of Lemcon Networks, which is 100% owned by Lemminkainen Group. Lemcon Networks provides professional project management and implementation services for mobile telecom network projects around the world. The divested business engages approximately 35 employees. United Telecom International was founded in 2010 and is headquartered in Taipei City, Taiwan. In addition, it has established operations in the Philippines, Malaysia and Indonesia. The company provides repair development support to partner companies providing in-country repair solutions to mobile network operators. 

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