THE CENTRAL EUROPEAN BUSINESS OPERATIONS OF CAVERION WERE TRANSFERRED TO YIT
ID: 250481
THE CENTRAL EUROPEAN BUSINESS OPERATIONS OF CAVERION WERE TRANSFERRED TO YIT
YIT CORPORATION STOCK EXCHANGE RELEASE SEPTEMBER 1, 2010 AT 08:00
THE CENTRAL EUROPEAN BUSINESS OPERATIONS OF CAVERION WERE TRANSFERRED TO YIT
YIT Corporation and the owners of Caverion GmbH have agreed on June 23, 2010
that YIT will acquire the entire business operations of Caverion GmbH, a company
providing building system services in Central Europe. The completion of the
transaction was subject to approval by competition authorities. All the terms
and conditions of the transaction were fulfilled on August 31, 2010, and the
business operations were transferred to YIT on the same day.
The price of Caverion's shares totals EUR 73 million. The company's revenue in
2009 was EUR 440 million and its operating profit amounted to EUR 10.9 million.
With the acquisition, 2,000 employees are transferred to YIT's employment. In
2009, YIT's revenue in Central Europe (Germany, Austria, Poland, Czech Republic,
Hungary and Romania) was EUR 375 million and number of employees 2,160.
The acquisition strengthens YIT's local presence and extends its competences,
allowing the company to better serve its customers. In particular, service to
industrial customers and expertise in air conditioning technology will be
improved. In order to provide extensive services and develop business efficiency
and profitability YIT will collect the business operations of each country into
one company.
The transaction will increase the share of building systems services of the
business operations of YIT Group. The Group's revenue from Central Europe will
double, and YIT will become the second largest provider of building system
services in Germany. YIT aims to develop its operations in Central Europe and
become the market leader in Germany.
About Yit:
YIT is a leading European service company in building systems, construction
services and services for industry, with operations in the Nordic countries,
Russia, the Baltic countries and Central Europe. In 2009, YIT's revenue amounted
to EUR 3.5 billion and operating profit EUR 166 million. The largest segment of
YIT is Building and Industrial Services, providing services in all countries
where YIT operates. In 2009, the segment's revenue amounted to EUR 2,215 million
and operating profit to EUR 119 million. After the acquisition the Group employs
more than 25,500 people. YIT's share is listed on NASDAQ OMX Helsinki. For
additional information, please contact: www.yitgroup.com
YIT CORPORATION
Virva Salmivaara
Senior Vice President, Corporate Communications
For further information, please contact:
Arne Malonaes, Head of the Building and Industrial Services segment, tel. +47
90 69 31 86, arne.malonas@yit.no
Sakari Toikkanen, Executive Vice President, Business Development, +358 40 532
2174, sakari.toikkanen@yit.fi
Hanna-Maria Heikkinen, Vice President, Investor Relations, +358 40 826 2172,
hanna-maria.heikkinen@yit.fi
Datum: 01.09.2010 - 12:16 Uhr
Sprache: Deutsch
News-ID 250481
Anzahl Zeichen: 3657
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