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PRESS RELEASE JULY 8, 2010 at 13:00
YIT WILL ACQUIRE CARL CHRISTENSEN & CO. IN DENMARK
The Danish subsidiary of the technical contracting and service company YIT has signed an agreement with Stensdal Group A/S, the former owner of Carl Christensen & Co, about acquisition of the activities of the company. According to the agreement YIT will on August 9, 2010 take over the activities of the 113-year-old company. Carl Christensen & Co has 250 employees in branch offices in Aalborg, Århus, Vejle and Rødovre. The revenue of the company was EUR 33.3 million in 2009.
After the acquisition YIT in Denmark will have 1,450 employees in 18 locations all over the country.
The acquisition is in line with YIT's strategy of filling discipline and geographical gaps to meet the increasing demand for building systems solutions, energy saving services as well as multidiscipline contracts within service and maintenance in the Danish market.
"The acquisition of Carl Christensen & Co. is an important step in our strategy of strengthening our competences within HWS (heat, water and sanitation) and sprinkler systems etc. Today we are among the leading technical contracting companies in Denmark, and the acquisition will further strengthen our position. Combined with our existing competences within electrical installation, HWS and ventilation our profile is now even stronger in total building systems solutions", explains Leo G. Sørensen, Managing Director from YIT A/S.
New know-how and competences - in the favour of our customers
As part of the European YIT Group, YIT in Denmark is in a favourable position to be the constant market leader in development and delivery of technical contracts, technical services as well as energy saving services.
"Based on the continuous strengthening of our Danish competences, now reinforced by the acquisition of Carl Christensen & Co. as well as the transfer of know-how from the other companies of the YIT Group, we are in an even better position to be at the cutting edge of the technical development. That is why we look forward to being able to offer an even larger portfolio of customised services - primarily within building systems solutions, multidiscipline service contracts and energy saving activities", says Leo G. Sørensen.
The latest acquisitions by YIT in Denmark were Gerdes & Wesenberg in Fredericia and Brdr. Petersen's Eftf. in Vejle.
For further information, please contact: Leo G. Sørensen, Managing Director YIT A/S, tel. +45 76 23 20 00, leo.g.sorensen@yit.dk
YIT
YIT A/S is the Danish subsidiary of YIT Group and one of the leading technical contracting, installation and service companies in Denmark. YIT A/S has about 1,200 employees and nationwide activities within electrical installations, ventilation and HWS. The company's revenue was EUR 145.9 million in 2009. The main offices are located in Copenhagen and Fredericia. In addition, there are16 service centres in the major Danish cities.
YIT Group is a leading European service company in building systems, construction services and services for industry. YIT builds, develops and maintains quality living environments in the Nordic countries, Russia, the Baltic countries as well as in Germany, Austria, Poland, the Czech Republic, Hungary and Romania. YIT has nearly 100 years of expertise within construction services and building systems. In 2009, YIT Group's turnover was EUR 3.5 billion. The Group has about 23,500 employees. YIT's shares are listed on NASDAQ OMX Helsinki. More information: www.yitgroup.com .
Carl Christensen & Co A/S
Carl Christensen & Co. A/S was established in 1897 in Aalborg. In 2002 the company was acquired by Stensdal Group A/S. The activities of the company include contracting and service activities within HWS, sprinkler, ventilation, cooling and electrical installations. Carl Christensen & Co. A/S's revenue in 2009 was EUR 33.3 million - the highest in the company's history. The company has about 250 employees. The branch offices of the company are situated in Aalborg, Århus, Vejle and Rødovre.
YIT CORPORATION
Virva Salmivaara Senior Vice President, Corporate Communications
Distribution: principal media, www.yitgroup.com
