DGAP-News: YIT ACQUIRES COOLING AND HVAC COMPETENCE IN AUSTRIA

(firmenpresse) - YIT

16.12.2011 08:00
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Helsinki, 2011-12-16 08:00 CET (GLOBE NEWSWIRE) --
YIT CORPORATION INVESTOR NEWS 16 December, 2011 at 9:00



YIT ACQUIRES COOLING AND HVAC COMPETENCE IN AUSTRIA

YIT Austria GmbH has signed two share purchase agreements. In Graz YIT as
purchaser and Michael Pucher as seller have signed an agreement about the
acquisition of an Austrian cooling solutions and services provider P&P
Kalteanlagenbau GmbH. In Linz YIT has agreed with Mario Mayer about the
acquisition of WM Haustechnik GmbH. Both transactions will include all
employees, clients and service agreements. With the assumption that all legal
requirements have been fulfilled, the transactions are intended to be closed on
1.1.2012.

P&P Kalteanlagenbau GmbH has approximately 50 employees. The revenues of the
company in 2011 was approximately EUR 11 million. P&P has almost 900 service
agreement clients and it is one of the leading retail sector cooling solution
providers in Austria. P&P Kalteanlagenbau has its head quarters in Graz and the
strongest business in southern Austria. WM Haustechnik GmbH is a local HVAC
specialist in the city of Linz with approximately EUR 1 million annual
revenues.

'We consider these acquisitions an important step in implementation of our
strategy. YITs aim is to increase the share of service and to fulfill the scope
of technical offering to cover the entire building systems. With this
acquisition we get a lot of new service agreement clients as well as highly
skilled cooling and HVAC specialists into our team. By combining the new
competences to the existing building systems services we can offer our clients
even wider solutions and services.', says Manfred Simmet, the CEO of YIT
Austria.



More information:
Karl-Walter Schuster, Head of YIT Building Services Central Europe, +49 172 831
0452
Manfred Simmet, CEO, YIT Austria GmbH, +43 664 830 1945



YIT CORPORATION



Virva Salmivaara
Senior Vice President, Corporate Communications





Distribution: Principal media, local media, www.yit.fi



YIT is a leading European service company in building systems, construction
services and services for industry. We build, develop and maintain quality
living environments in the Nordic countries, Central Europe, Russia and the
Baltic countries. In 2010, YIT's revenue was EUR 3.8 billion. The Group has
about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.

YIT Austria GmbH is one of Austria's leading suppliers of technical building
equipment and services across all sectors, including facility management and
energy-saving solutions. YIT Austria has 7 branches and more than 600 employees
in Austria.
News Source: NASDAQ OMX



16.12.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: YIT


Finland
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ISIN: FI0009800643
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End of Announcement DGAP News-Service

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Bereitgestellt von Benutzer: EquityStory
Datum: 16.12.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 541408
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