YIT announces new strategy and financial targets for 2025-2029, introduces a new segment structure
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- Stock Exchange Release
- 01.08.2008 12:00 CET
MCE'S BUILDING SYSTEM OPERATIONS WERE TRANSFERRED TO YIT ON AUGUST 1, 2008
STOCK EXCHANGE RELEASE AUGUST 1, 2008 AT 13.00
MCE'S BUILDING SYSTEM OPERATIONS WERE TRANSFERRED TO YIT ON AUGUST 1, 2008
YIT Corporation and MCE AG signed an agreement on the sale of MCE's building system service business in Germany, Austria, Poland, the Czech Republic, Hungary and Romania to YIT on May 29, 2008. The completion of the transaction was subject to approval by competition authorities. Competition authorities approved the transaction in Germany on July 8, 2008, in Austria on July 16, 2008 and in Poland on August 1, 2008. The acquisition was finalized on August 1, 2008.
The value of the acquisition is EUR 55 million. The purchased operations employ about 1,900 people. Revenue for 2007 amounted to EUR 355 million.
YIT CORPORATION
Juha Kostiainen Senior Vice President, Corporate Communications and Business Development
For further information, please contact: Petra Thorén, Senior Vice President, Investor Relations, YIT Corporation, +358 40 764 5462, petra.thoren@yit.fi Juhani Pitkäkoski, President, YIT Building Systems Ltd, +358 400 451 644, juhani.pitkakoski@yit.fi
YIT is a successful European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in Nordic countries, Baltic countries, Russia and Central Europe. In 2007, YIT's revenue amounted to EUR 3.7 billion, and the Group employed more than 23,000 people. YIT's share is listed on OMX Nordic Exchange Helsinki. www.yitgroup.com