Sponda to build production premises for Metso in Hakkila, Vantaa (FI)

Property investment company Sponda Plc and Metso Automation Inc. have signed an agreement for production premises to be built in Hakkila, Vantaa.

The new building, with a floor area of some 22,000 m², will be erected beside the Honkatalo logistics center owned by Sponda at Vanha Porvoontie 229 in Vantaa. The new building will be leased in its entirety to Metso Automation's business line with a long-term, 15-year lease.

Sponda is also leasing to Metso some 12,000 m² of office and warehouse premises in the Honkatalo office building next to the new building. Almost the entire office building will be occupied by Metso.

Overall costs for Sponda for the investment are estimated at about €40 million, and this will be financed by the sale of property. Construction work on the new building is expected to begin in January 2010, and the project should be completed by the end of 2010. The new build investment meets the profitability targets set by Sponda for its development projects.

Metso Automation is transferring to the business premises in the Honkatalo area its business operations currently in the Roihupelto district of Helsinki, including those in the production property in the Tulppatie road owned by Sponda.

"The new premises will provide considerably better facilities for our business operations. We will enhance the production process and logistics for industrial valves for demanding applications, and we will be able to strengthen the flow of information. The new premises are also a positive signal to our personnel; we will continue to serve our customers from Finland, especially those in Europe," states President Markku Simula, who is responsible for Metso's valve business.

Juhani Paajanen, Mayor of the City of Vantaa, considers that Metso's move to Hakkila reinforces the importance of the area as a logistics, industrial and retail center mid-way between Helsinki-Vantaa airport and Vuosaari Harbour.

"The city is working closely with business and landowners in the Vantaan Akseli (Vantaa Axis) project to develop facilities and infrastructure in the area for a wide range of business," says Paajanen.

"Sponda owns altogether some 67,500 m² of logistics premises in the Hakkila business center, and still has scope for further building in the area, in addition to the current project. The agreement signed will have a positive impact on our occupancy rates," says Perttu Hokkanen, regional manager responsible for logistics properties at Sponda.

Source: GlobeNewswire

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