John Nurminen sold facilities in Kotka to the U.S. investment firm W. P. Carey Co. LLC on 1 November 2005. John Nurminen will lease back and continue its operations in the Mussalo and Hovinsaari properties.
The transaction consists of the Cargo Handling and Value-Added Services
Unit’s five terminals in the port of Mussalo and the Railway Logistics
Unit’s terminal in Hovinsaari.
John Nurminen will continue to be responsible for the care and
operative management of the properties. John Nurminen’s strategy is to
secure important facilities through ownership and leasing arrangements.
John Nurminen is well on the way to reaching its growth targets. The
company will develop its existing business operations and meet its
targets through investments and acquisitions. Releasing capital tied up
in real estate is an efficient means of meeting the company’s
objectives.
W. P. Carey & Co. LLC is a New York-based investment firm that
was established in 1973. The company manages properties throughout the
world. W. P. Carey’s portfolio consists of more than 15 million square
feet of property in Europe and Asia. This year it has invested more
than USD 435 million in real estate in Scotland, France, Germany, Finland,
Thailand, Canada and Mexico.
For further information, please contact:
Kenneth Huomo, Director of Administration, John Nurminen Oy,
tel. +358 10 545 2598.