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YIT Corporation Press Release October 4, 2019 at 11:00 a.m.
In line with its strategy, YIT will strengthen its service business in Russia and establish a joint venture with Brusnika to provide property management and maintenance services.
The joint venture will be joined by YIT’s service companies operating in Yekaterinburg and Tyumen. The company covers the cities of Yekaterinburg, Tyumen, Novosibirsk and Surgut in Ural and Siberia part of Russia. Brusnika is one of the largest Russian property developers operating in Siberia, Ural and Moscow region, which also provides property maintenance services. The YIT and Brusnika joint venture aims to be the leading maintenance company in Russia from client’s services and client’s satisfaction point of view.
The joint venture is scheduled to begin operations on January 1, 2020. YIT has a majority shareholding of 50.01% and operative management in the joint venture. The joint venture will be responsible for the management and maintenance of a total of nearly 24,000 homes at the start of operations.
For further information, please contact:
Teemu Helppolainen, Executive Vice President, Housing Russia segment, YIT Corporation, tel. +791 5316 8216, teemu.helppolainen@yit.ru
Katja Tiitinen, Communication Manager, YIT Corporation, tel. +358 50 595 4407, katja.tiitinen@yit.fi
YIT is the largest Finnish and a significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, Baltic Countries, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com
