YIT ACQUIRES THE ELECTRO COMPANY MADLA ELEKTRO IN NORWAY


YIT CORPORATION             PRESS RELEASE      8 MARCH, 2012 at 12:00

YIT ACQUIRES THE ELECTRO COMPANY MADLA ELEKTRO IN NORWAY

YIT has signed an agreement to acquire Madla Elektro in Stavanger, Norway. The acquisition strengthens YIT’s position as the largest provider of technical building installations in the country.

- The acquisition of the Stavanger-based company consolidates our position as market leader in Rogaland. Madla Elektro has extensive expertise in the electrical field and has completed exiting installations including innovative technical installations for residential housing, SmartHouse. In addition, they have been taking good care of their customers in the service and aftermarket, says Tryggve Eide, Vice President of YIT’s district Rogaland.

Madla Elektro has an annual turnover of approximately EUR 4 million (30 MNOK) and it has 30 employees.

- YIT has in recent years carried out a series of acquisitions of small and medium sized businesses around the country. The market in Rogaland is good and the acquisition of Madla Elektro strengthens our competence further, says Trygve B. Thøgersen, President of YIT AS.

- Madla Elektro has had an exciting development. In order to develop the company further towards a larger market as a technical supplier, we need to be part of a large group with multidisciplinary breadth and expertise as well as better opportunities for the development of our employees, says manager Kurt Knutsen about the background of the sale.

For additional information, please contact:
Tryggve Eide, Vice President, district Rogaland, YIT AS, mob: +47 992 12 418
Trygve Bruno Thøgersen, President, YIT AS, mob: +47 993 21 973


YIT CORPORATION
 

Virva Salmivaara
Senior Vice President, Corporate Communications


YIT celebrates its 100th anniversary in 2012. The company was established in the Grand Duchy of Finland in 1912. Today, YIT is a leading European service company in building systems, construction services and services for industry. Our 26,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. We have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com

YIT is Norway’s leading supplier of fully integrated building technology. The main emphasis of the deliveries is on indoor climate, electro, automation, energy-saving, piping, ICT, audiovisual solutions and security. We also provide comprehensive services within facility management and maintenance of buildings and technical installations. The company has 3,600 employees and more than 60 offices across Norway.

 

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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