Inside information: Lamor will negotiate NEOM Company’s proposal to reduce the responsibilities allocated to Lamor
Lamor Corporation Plc, stock exchange release, inside information, 10.9.2024 at 12.00 p.m.
Inside information: Lamor will negotiate NEOM Company’s proposal to reduce the responsibilities allocated to Lamor
Lamor announced on 27 May 2024 that NEOM Company had selected Lamor to deliver a major environmental protection project in the Western Province of Saudi Arabia. The parties signed a 3-year contract worth approximately EUR 55 million. The project consists of oil spill response preparedness services and technology. Lamor started preparatory activities related to setting up the service capability during the second quarter.
Lamor has received a preliminary proposal from NEOM Company for reducing the responsibilities allocated to Lamor as well as a request concerning Lamor's proposal by which the parties agree on the appropriate reimbursement of such a change based on the agreement.
In the future, the Company will publish additional information as necessary.
The potential change does not impact the guidance provided by Lamor according to which Lamor expects that its revenue for the financial year 2024 will be at least at the same level as in 2023. Lamor has not provided guidance for profitability for the financial year 2024.
Further information
Johan Grön, CEO, Lamor Corporation Plc
+358 40 546 4186, johan.gron@lamor.com
Lamor in brief
Lamor is one of the world’s leading providers of environmental solutions. For four decades, we have worked to clean up and prevent environmental incidents on land and at sea.
Environmental protection, soil remediation and material recycling: Our innovative technologies, services and tailored solutions, ranging from oil spill response, waste management and water treatment to soil remediation and plastic recycling, benefit customers and environments all over the world.
We are capable of vast and fast operations thanks to our connected ecosystem of local partners, steered by our experts. We have over 600 employees in more than 20 countries. In 2023, our turnover was 123 million euros. Lamor's share is listed on Nasdaq Helsinki (ticker: LAMOR). Further information: lamor.com.
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