YIT CORPORATION PRESS RELEASE 26 March 2009 at 1:00 p.m.
YIT to sell water and environmental engineering services to Econet Engineering
YIT has signed an agreement on the sale of its water and environmental
engineering service business to Econet Engineering Ltd. The sale of the business
operations will become effective on 1 April 2009, with 23 employees joining
Econet Engineering as a result.
"We wanted to find a buyer for the civil engineering services whose core
business is in the field. Econet Engineering has an extensive network in the
market and good opportunities for developing the business," says Tero Kiviniemi,
President of Construction Services Finland.
"Econet Engineering will invest significantly in exports over the next few
years. This acquisition will reinforce our business and export expertise. With
the acquired business operations, we will be the market leader in Finland in
select areas of environmental business services," says Matti Leppäniemi,
Managing Director of Econet Engineering.
For further information, please contact:
YIT
Tero Kiviniemi, President of Construction Services Finland, tel. +358 40 519
0112, tero.kiviniemi@yit.fi
Econet Engineering
Matti Leppäniemi, Managing Director, tel. +358 40 553 3001,
Matti.leppaniemi@econetengineering.fi
YIT Corporation
Veikko Myllyperkiö
Senior Vice President, Corporate Communications
Distribution: principal 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, Russia, the Baltic countries and
Central Europe. In 2008, YIT's turnover was EUR 3.9 billion. The Group has over
25,000 employees. YIT's share is listed on NASDAQ OMX Helsinki. www.yit.fi
Econet Engineering Oy is an engineering company specializing in planning and
managing water, wastewater and environmental technology solutions. The company's
main areas of operations are municipal and industrial waterworks, wastewater
treatment plants and biological treatment method planning, project leading and
construction. www.econetengineering.fi