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YIT CORPORATION PRESS RELEASE JUNE 22, 2011 at 9:00
YIT ACQUIRES MISAB SPRINKLER & VVS AB IN SWEDEN
YIT has acquired all shares in MISAB Sprinkler & VVS AB based in Uddevalla, Sweden. The company has active operations in the regions of Västra Götaland, Värmland, Halland and parts of Småland. The company’s revenue is approximately SEK 60 million i.e. EUR 6.5 million and it employs 40 people.
MISAB Sprinkler & VVS AB has more than 30 years of experience in fire protection and it is currently a complete plumbing and sprinkler system provider. The company offers complete solutions for sprinkler, plumbing, ventilation and industrial systems, from planning and installation to service and maintenance of completed projects. In order to better meet their customers’ unique requirements and to offer cost-effective delivery, MISAB also has a pre-fabrication plant for series production of piping.
The company’s operations consist of 60 percent sprinkler projects and 40 percent plumbing.
“I would firstly like to greet and welcome all of the employees from MISAB to YIT. This acquisition is in line with our strategy of strengthening our position within local markets and offering our customers total solutions in the area of building and industrial services. MISAB’s successful business strengthens us in the area of heating and sanitation, but above all it gives us the opportunity to offer sprinkler installations in western and southern Sweden, which is a good complement to our existing sprinkler business,” says Fredrik Sederholm, CEO of YIT Sverige AB.
The acquisition takes effect on July 1st, 2011.
For more information please contact
Regional Manager Johnny Wallerman, YIT Sverige AB, phone +46 (0)31-334 27 10
YIT CORPORATION
Virva Salmivaara
Senior Vice President, Corporate Communications
Distribution: principal media, www.yitgroup.com
YIT is a significant European services company operating in the fields of building, construction and industry. We build, develop and maintain a comfortable living environment in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010 YIT's revenue was EUR 3.8 billion. The Group employs close to 26,000 people. YIT is listed in the NASDAQ OMX Helsinki Stock Exchange.
YIT is a leader in Sweden in the installation and maintenance of building and industrial 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, refrigeration, sanitation, process media, security and protection, as well as data and telecommunications networks, the services contribute to profitability, security and better living environments. YIT operates with more than 4,400 employees at approximately 100 locations throughout Sweden.
