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Lassila & Tikanoja plc has received an EUR 16.7 million claim from the financiers of L&T Recoil Oy regarding L&T Recoil Oy’s loan guarantee commitment

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Helsinki, Finland, 2014-03-21 11:15 CET (GLOBE NEWSWIRE) --
Lassila & Tikanoja plc                Stock exchange release          21 March 2014 12.15 pm

Lassila & Tikanoja has been informed that the financiers of the  EcoStream Group have called in a loan granted to L&T Recoil Oy, part of the EcoStream Group, and received a claim from the financing banks to pay EUR 16.7 million on the basis of a loan guarantee commitment associated with L&T Recoil Oy’s loans.

Lassila & Tikanoja’s total risk associated with the EcoStream Group, including the guarantee commitment mentioned above, is approximately EUR 23.4 million as announced earlier, with the said guarantee commitment of EUR 16.7 million having an effect on cash flow.



Pekka Ojanpää
President and CEO


For additional information, please contact
Timo Leinonen, CFO, tel. +358 400 793 073.

Lassila & Tikanoja is a service company that is transforming the consumer society into an efficient recycling society. In co-operation with our customers we are reducing waste volumes, extending the useful lives of properties, recovering materials and decreasing the use of raw materials and energy. We help our customers to focus on their core business and to save the environment. Together, we create well-being and jobs. With operations in Finland, Sweden and Russia, L&T employs 8,000 persons. Net sales in 2013 amounted to EUR 668.2 million. L&T is listed on NASDAQ OMX Helsinki.

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