HELSINKI, Finland--(BUSINESS WIRE)--Regulatory News:
An agreement concerning the sale of 380 covered wagons signed on 17 February 2016 by Nurminen Logistics will be realized in accordance with the original contract. Nurminen Logistics informed on 17 March 2016 that the buyer's financing negotiations were stretched but they have now been completed and the buyer's financing is secured.
The transaction has no impact on the result for 2016 because wagons are valued in the rubles selling price in the financial statements 2015. The company has signed an agreement with the financing banks on short-term financing of EUR 3 million until 31 May 2016, which guarantees the company’s financial position for a period of the closing of the sale. The company will use funds that it receives from the sale of wagons to pay off short-term bank loan and to strengthen its working capital. Due to the strengthening of ruble exchange rate the value of the wagon trade in euros has increased, which has a positive effect on the company's financial position.
Nurminen Logistics still owns wagons used by the forest industry and continues to operate wagons in Russia as well as in traffic between Finland and Russia.The company's wagon operation continues unchanged with regard to the covered wagons as well.
Nurminen Logistics Plc
President and CEO
NASDAQ OMX Helsinki
Nurminen Logistics is a listed company established in 1886 that offers logistics services. The company provides high-quality forwarding, cargo handling and value added services as well as railway transports and related to it project transport services to its customers. The main market areas of Nurminen Logistics are Finland, Russia and its neighbouring countries.
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