YIT has signed an agreement with Tikkurila on the rental and sales of a paint factory plot situated in the Greenstate industrial park in St Petersburg

YIT OYJ Press release April 4, 2018, at 2 P.M.

YIT and Tikkurila have signed an agreement on the rental and sales of a plot in the Greenstate industrial park in the Gorelovo industrial area in St Petersburg. Tikkurila will have a paint factory built on the plot.

According to the agreement, Tikkurila will rent the plot from YIT for planning the plant construction project and will redeem it later. Tikkurila will arrange a tendering process for selecting the contractor for the construction work. The construction work is scheduled to begin at the beginning of 2019 and the production is expected to start in 2020.

Covering an area of 6.5 hectares, the plot is situated in the Greenstate industrial park at the southern boundary between St Petersburg and the Leningrad area. There is a direct railway network connection from the plot, which in addition to the paint factory will house Tikkurila’s R&D centre as well as warehouses for raw materials and finished products.

The size of the industrial park in the southern part of the Gorelovo industrial area is 114 hectares. The industrial park is intended for production plants and logistics centres, for which it offers ready technical infrastructure. There are currently 17 permanent operators in the Greenstate industrial park.

Tikkurila Group is a leading paint company in the Nordic Countries.

For further information, please contact:

Teemu Helppolainen, Executive Vice President, Housing Russia Segment, YIT, tel. +79 153 682 16, teemu.helppolainen@yit.fi

Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 (0)40 561 6568, hanna.malmivaara@yit.fi

Distribution:  Major media, www.yitgroup.com/en 

YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our combined annual revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com