YIT to sell water and environmental engineering services to Econet Engineering

YIT to sell water and environmental engineering services to Econet Engineering  

YIT has signed an agreement on the sale of its water and environmental           engineering service business to Econet Engineering Ltd. The sale of the business operations will become effective on 1 April 2009, with 23 employees joining      Econet Engineering as a result.                                                   "We wanted to find a buyer for the civil engineering services whose core         business is in the field. Econet Engineering has an extensive network in the     market and good opportunities for developing the business," says Tero Kiviniemi, President of Construction Services Finland.                                       "Econet Engineering will invest significantly in exports over the next few       years. This acquisition will reinforce our business and export expertise. With   the acquired business operations, we will be the market leader in Finland in     select areas of environmental business services," says Matti Leppäniemi,         Managing Director of Econet Engineering.                                        

For further information, please contact:                                         YIT                                                                              Tero Kiviniemi, President of Construction Services Finland, tel. +358 40 519     0112, tero.kiviniemi@yit.fi                                                      Econet Engineering                                                               Matti Leppäniemi, Managing Director, tel. +358 40 553 3001,                      Matti.leppaniemi@econetengineering.fi                                           

 YIT Corporation                                                                  Veikko Myllyperkiö                                                               Senior Vice President, Corporate Communications                                 

Distribution: principal media, www.yit.fi                                       

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 over 25,000 employees. YIT's share is listed on NASDAQ OMX Helsinki. www.yit.fi      

Econet Engineering Oy is an engineering company specializing in planning and     managing water, wastewater and environmental technology solutions. The company's main areas of operations are municipal and industrial waterworks, wastewater     treatment plants and biological treatment method planning, project leading and   construction. www.econetengineering.fi