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PRESS RELEASE August 25, at 14.30
YIT ACQUIRES NORWEGIAN PIPING COMPANY MERCUR
To strengthen its position as the largest supplier of technical building installations, YIT has entered into an agreement for the acquisition of Mercur.
“With the acquisition of the Oslo-based company, we maintain our position in eastern Norway. Mercur has extensive expertise in piping and has completed large and complex projects,” says Hallstein Ødegård at YIT.
Mercur has an annual turnover of around 160 MNOK and 109 employees.
“In recent years YIT has carried out a series of acquisitions of small and medium-sized businesses around the country. The acquisition of Mercur is one of the largest since YIT’s establishment in Norway in 2003, says Trygve B. Thøgersen, President of YIT AS,” Norway.
Mercur has had an exciting development. To develop the business further for a wider market as a technical supplier, the company needs to be part of a large corporation with interdisciplinary breadth and expertise. This will also provide greater opportunities for the development of our employees, say the owners Helge Henriksen (managing director) and Anders Henriksen (Chairman) regarding the sale.
For further information, please contact:
Trygve B. Thøgersen, President YIT AS, mob. 993 21 973
YIT CORPORATION
Virva Salmivaara
Senior Vice President, Corporate Communications
Distribution: principal media, www.yitgroup.com
Mercur is a piping, sprinkling, cooling and heating solutions with 109 employees and about EUR 20 million in net sales.
YIT AS is Norway’s leading supplier of fully integrated building technology. The main emphasis of the deliveries is on indoor climate, electro, automation, energy-saving, piping, ICT, audiovisual solutions and security. We also provide comprehensive services within facility management and maintenance of buildings and technical installations. The company had revenue of about EUR 467 million in 2010, 3,500 employees, and more than 60 offices across Norway. The company is part of YIT Group.
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 turnover was EUR 3.8 billion. The Group has nearly 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com.
