Caverion implements the life cycle project of school modernization and extension in cooperation with YIT in Espoo, Finland

Caverion Corporation    Investor News    March 4, 2015 at 15:00 P.M. EET

Caverion implements the life cycle project of school modernization and extension in cooperation with YIT in Espoo, Finland

Caverion has signed an agreement with the city of Espoo on the modernization and extension of the Päivänkehrä school as a life cycle project. The project will be carried out in cooperation with YIT. The value of the contract for Caverion is approximately EUR 14 million, and it includes the design and engineering, project execution and project management covering all building systems of the property as well as technical maintenance and managed operations throughout the contract period until the year 2037.

During the investment phase, Caverion is responsible for designing and delivering the property’s technical systems, such as electricity, heating and sanitation, air conditioning, security and safety and building automation systems.

After the project delivery, Caverion is responsible for providing technical maintenance and managed operations, which also include the management of other services related to the property, such as cleaning and maintenance of outdoor areas, during the operational phase of 20 years. Therefore, Caverion is responsible for the property’s usability, conditions, safety, general condition and energy use during its entire life cycle. The property is connected to Caverion’s HelpDesk services and 24/7 remote monitoring and management, which ensure meeting the goals agreed on the use of the property. 

“Life cycle solutions are at the core of Caverion’s strategy, and we are convinced that with the life cycle model we can create healthy, safe and functioning properties in the best possible way. Long-term cooperation and responsibility are emphasized in this model. Päivänkehrä is already the third life cycle project we have provided for Espoo city. The first PPP (Public Private Partnership) project in Finland was implemented by us for Espoo over ten years ago,”  says Jarno Hacklin, Executive Vice President & CEO, Division Finland.

The project comprises a full scale modernization of the school building built in 1975 and renovation of all of its technical systems. The designing and planning of the project will commence immediately, and t he building is scheduled for completion in the year 2017. The gross area of the building is around 7,400 square metres including the extension of 2,500 square metres.

Espoo City belongs to Caverion’s public sector client segment.

Additional information:

Caverion Finland, Kirsi Hemmilä, Communications Manager, tel. +358 50 390 0941, kirsi.hemmila@caverion.fi 

Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings and industries. Our services are used in offices, retail properties, housing, public premises, industrial plants and infrastructure, among other places. We aim to be a leading European provider of advanced and sustainable life cycle solutions. Our strengths include technological competence and comprehensive services, covering all technical disciplines throughout the life cycle of the property and industrial plant. Our revenue for 2014 amounted to approximately EUR 2.4 billion. Caverion has about 17,000 employees in 12 countries in Northern, Central and Eastern Europe.   Caverion’s shares are listed on Nasdaq Helsinki.  www.caverion.com

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