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- Stock Exchange Release
- 26.10.2007 07:05 CET
INTERNATIONAL CONSTRUCTION SERVICES TO BE YIT'S FOURTH BUSINESS SEGMENT
OCT. 26, 2007 at 8:05 CORPORATE RELEASE STOCK EXCHANGE RELEASE
INTERNATIONAL CONSTRUCTION SERVICES TO BE YIT'S FOURTH BUSINESS SEGMENT
A new business segment named International Construction Services will be formed from YIT Construction Services' operations in the Baltic countries and Russia at the beginning of 2008. The business operations of Construction Services in Finland will continue as a separate business segment, Construction Services Finland. As of the beginning of 2008 YIT's four business segments will be: Building Systems, Construction Services Finland, International Construction Services and Industrial and Network Services. The first interim report in line with the new business segment structure will be published on April 25, 2008.
Kari Kauniskangas (33), M.Sc. (Eng.), has been appointed to head up the International Construction Services business segment. He has previously served as the director of the Business Premises division in the Construction Services business segment. Ilpo Jalasjoki (56), M.Sc. (Eng.), has been appointed as the head of Construction Services Finland. He has previously been in charge of the Construction Services business segment.
The business segments have been reorganized due to growth in operations in Russia and the Baltic countries and their rising share of consolidated revenue. YIT is pursuing strong growth, particularly in the Russian market. The Construction Services business segment currently operates in Finland, Russia, Lithuania, Latvia and Estonia.
Firming up the Group's Management Board
The Group's Management Board will be firmed up as from the beginning of 2008. In addition to Group CEO Hannu Leinonen, the members of the new Management Board are the heads of the business segments, Pekka Frantti, Ilpo Jalasjoki, Kari Kauniskangas and Juhani Pitkäkoski, as well as the Group's CFO Sakari Ahdekivi and Executive Vice President Sakari Toikkanen.
For additional information, contact: Group CEO Hannu Leinonen, YIT Corporation, tel. +358 20 433 3301 President Ilpo Jalasjoki, YIT Construction Ltd, tel. +358 20 433 2692
YIT Corporation
Hannu Leinonen Group CEO
Distribution: OMX Nordic Exchange in Helsinki, principal media, www.yitgroup.com