YIT TO CONTINUE DEVELOPING THE GORELOVO AREA IN ST PETERSBURG WITH PRODUCTION PREMISES FOR DERMOSIL

YIT TO CONTINUE DEVELOPING THE GORELOVO AREA IN ST PETERSBURG WITH PRODUCTION PREMISES FOR DERMOSIL 

On 5 November 2009, YIT Lentek and Dermosil, Dermoshop Oy's subsidiary in St Petersburg, have signed a project agreement whereby YIT will construct production premises for Dermosil in Russia near Pulkovo, St Petersburg's international airport, in the Gorelovo industrial park. 

The production premises to be used for packaging cosmetic products comprise approximately 1,300 m2, and they will be located on a plot of some 8,200 m2.
The plan and public utility connections at the Gorelovo area are ready, so the construction of the facility can be started immediately. The project is expected to be completed by the end of 2010. 

The Gorelovo industrial park is located in the Leningrad Oblast on a land area of 96 hectares. YIT purchased the area in the autumn of 2006 and started the development of a modern industrial park at the beginning of 2007. In the area YIT has constructed the premium 19-hectare Gorigo logistics centre as well as production facilities for the Danish company Viking Life Saving Equipment. For Atria YIT has constructed a logistics centre and a meat products plant of which the latter has not been opened for use yet.    - This agreement opens up new important possibilities for industrial investments in Russia since the beginning of the economic recession. The area of Gorelovo offers ideal surroundings and a brilliant location in the vicinity of St Petersburg with excellent traffic connections. Also all available infrastructure connections are an important part of the whole project, says Director Peter Forssell. 

 For further information, please contact:  Peter Forssell, Real Estate Development Director, ZAO YIT Lentek, tel. +358 40 532 2273, peter.forssell@yit.ru  Kari Kauniskangas, Head of International Construction Services business segment, tel. +358 40 519 0198, kari.kauniskangas@yit.fi 



YIT Corporation 

 Virva Salmivaara, Senior Vice President, Corporate Communications 

 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, Russia, the Baltic countries and Central Europe. In 2008, YIT's turnover was EUR 3.9 billion. The Group has about 25,000 employees. YIT's share is listed on NASDAQ OMX Helsinki. 

 Distribution: Principal media, local media, www.yit.fi