YIT AND PEAB SIGN COOPERATION AGREEMENT ON TECHNICAL INSTALLATIONS FOR NEW IKEA STORES IN SWEDEN

YIT AND PEAB SIGN COOPERATION AGREEMENT ON TECHNICAL INSTALLATIONS FOR NEW IKEA STORES IN SWEDEN

YIT has signed a cooperation agreement with Peab for overall technical installation works at five new IKEA stores that will be built in Sweden. The first store is located in Älmhult and the construction of it starts in November 2011.

The overall technical solution includes all the building services installations in the department stores; electricity, power, firealarm, piping, ventilation, controls and sprinklers. YIT will be responsible for both design and construction.

- Our clear vision of the collaboration is to ensure a sustainable and cost effective installation by achieving lower total installation costs, assured quality, shorter production times and a clear responsibility on energy, environment and people, says Fredrik Sederholm, CEO of YIT Sverige AB.

The agreement between YIT and Peab is a direct result of the cooperation between Peab and IKEA. IKEA continues to expand its operations in Sweden, Norway and Finland, and Peab is responsible for the construction works as turn-key projects.

For further information, please contact
Michell Stenström, YIT project manager for Peab/IKEA, phone +46 (0)340-825 19
Jonas Henricsson, YIT contract manager for Peab/IKEA, phone +46 (0)340-825 02

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Corporate Communications

Distribution: principal media, www.yitgroup.com

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 revenue was EUR 3.8 billion. The Group has about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.

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.