Lamor enters into an agreement for a significant role in an environmental response and cleanup project in Peru

2.2.2022 08:15:01 EET | Lamor Corporation Oyj | Company Announcement

Lamor Corporation Plc      Company release, inside information    2 February 2022 at 08:15 a.m EET

Lamor enters into an agreement for a significant role in an environmental response and cleanup project in Peru

A significant oil spill has taken place at Repsol’s La Pampilla oil refinery in Peru. Repsol has chosen Lamor as one of the service providers to provide equipment and services in the response and cleanup of the oil spill. In the first phase, Lamor is acting as a technical consultant and solution provider.

Lamor’s share of the total value of the first phase has now been specified and is, according to current estimates, at least EUR 13 million of which the total value of services is approximately EUR 9 million. This phase is expected to be completed by mid-February 2022, but the parties may extend the period in case the work has not been completed by that time. Lamor published a company release regarding the contract negotiations with Repsol on 31 January 2022.

“Lamor was chosen as a service and solution provider for the oil spill based on its extensive experience, ability to respond rapidly and its unique network of partners. In addition, Lamor’s strong presence and track record in South America, with a local hub in Peru, were crucial for us. With our leading capabilities and local presence, we have again shown our ability to react to the environmental damage with a short notice. This highlights Lamor’s unique capabilities and our commitment to cleaning the world”, says Mika Pirneskoski, CEO of Lamor.

Further enquiries

Mika Pirneskoski, CEO, Lamor Corporation Plc, tel. +358 40 757 2151

Certified adviser

Danske Bank A/S, Finland Branch, tel. +358 50 590 7667

Lamor in brief

Lamor is one of the leading global providers of environmental solutions. Lamor provides its customers with equipment used for oil recovery, waste management and water treatment as well as versatile environmental solutions and services, such as clean-up and preparedness services related to oil spill response and oil spills, services for the treatment of waste and tailored and adapted water treatment solutions. Lamor operates together with its local partners, offering a wide selection of solutions, which can be tailored according to the needs of each customer, and aiming to clean the world, for which the company has worked since its incorporation. The company's share is listed on the Nasdaq First North Premier Growth Market Finland marketplace maintained by Nasdaq Helsinki under the trading code LAMOR. Further information: www.lamor.com