Alma Media Corporation Stock Exchange Release October 29, 2010 at 14:00 (EEST)
OP LIFE ASSURANCE COMPANY LTD WILL BUY PROPERTY TO BE BUILT FOR ALMA MEDIA'S NEW PRINTING FACILITY IN TAMPERE
Alma Media Corporation has today made an agreement of leasing the property to be completed for its printing and distribution company Alma Manu Oy in Tampere in 2012. Simultaneously, Alma Media Corporation has sold its property holding company Kiinteistö Oy Uusi Paino Oy to OP Life Assurance Company Ltd.
- The leasing agreement between Alma Media and OP Life Assurance Company Ltd will further strengthen the customer relationship of the Alma Media Group and the OP-Pohjola Group. On the basis of the agreements made, OP-Pohjola will become one of the chief financing providers for the Alma Media Group, says Tuomas Itkonen, CFO, Alma Media Corporation.
- We are extremely satisfied with the financing cooperation regarding the building of Alma Media's new printing facility. Alma Media is a leasing partner with good solidity, so the long leasing agreement for a property in a good location in Tampere will fit perfectly into OP Life Assurance's direct property investment allocation. In addition, it will have a long-term securing effect on our leasing income from property investment, says Karri Alameri, Chief Investment Officer, OP Life Assurance Company Ltd.
The new printing facility to be built at the address Patamäenkatu 9, Tampere, Finland, will have a total area of 15,000 square metres; out of which 800 square metres is office space. The leasing period will start on January 1, 2012.
ALMA MEDIA CORPORATION
Rauno Heinonen, Vice President, Corporate Communications and IR
Tuomas Itkonen, CFO, Alma Media Corporation, telephone +358 10 665 244
Markku Mäkiaho, CEO, Pohjola Property Management Ltd, telephone +358 10 252 7272
Distribution: NASDAQ OMX Helsinki Exchange, principal media
Alma Media in brief
Alma Media is a dynamic media company whose best-known products are the Aamulehti, Iltalehti, Kauppalehti and Etuovi.com. Alma Media employs nearly 3,000 professionals. The company's net sales in 2009 totalled MEUR 307.8 with an operating margin of 13.5 per cent. Alma Media's share (ALN1V) is listed in the NASDAQ OMX Helsinki Exchange. Read more at http://www.almamedia.fi/