Helsinki, 2012-01-26 10:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION INVESTOR NEWS 26 JANUARY 2012 at 11:00
YIT ACQUIRES TWO COMPANIES IN FINSPÅNG, SWEDEN
YIT has acquired Elektriska Installationer i Finspång AB and the sister company Kraftmontage i Finspång AB as of 1 February, 2012. The companies have over 20 employees and combined revenues exceed SEK 20 million (EUR 2.27 million)
- The acquisition strengthens our existing operations in Finspång and is in line with our strategy to be established in locations that are undergoing rapid growth and expansion. We are proud to welcome our new employees to YIT, says Jörgen Mattsson, CEO of YIT Sverige AB.
Elektriska Installationer i Finspång AB was founded in the 1920s and is today a successful, full powered company with expertise and experience in electricity, telecommunications, data, alarm and low voltage installations. Businesses include both installation and service and the company has a strong market position.
Kraftmontage i Finspång AB is specialized in renovation and new construction of substations providing construction and manufacturing through its own company The company also has expertise in working with high voltage up to 40kV.
- We are pleased with the business that we and our employees have built up over the years. We are looking forward to the new owners and colleagues, and continue to develop both our business and our customer relationships, says Göran Carlsson, CEO of Elektriska Installationer i Finspång AB and Kraftmontage i Finspång AB.
For more information, please contact:
Peter Almtoft, Regional Manager, YIT Sverige AB, phone +46 (0)13 37 32 20
Göran Carlsson, CEO, Electric Installations in Finspång AB, phone +46 (0)122 160 20
YIT CORPORATION
Virva Salmivaara
Senior Vice President, Corporate Communications
YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2010, YIT’s revenue was approximately EUR 3.8 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com
YIT is the Swedish leader in installation and service of building system services. The company offers a complete assortment in technical installations, operations and maintenance, and facilities management. Through functional installations for, among other things, electricity, heating, ventilation, cooling, sanitation, process media, security and protection, as well as datacom and telecom networks, the services contribute to profitability, security and better living environments. YIT operates with more than 4,000 employees at approximately 100 sites in Sweden.