YIT AND LEMMINKÄINEN SIGN LETTER OF INTENT ON NUCLEAR POWER PLANT CONTRACTS IN FINLAND


YIT CORPORATION             INVESTOR NEWS      5 MARCH 2012 AT 13:00

YIT AND LEMMINKÄINEN SIGN LETTER OF INTENT ON NUCLEAR POWER PLANT CONTRACTS IN FINLAND

YIT Corporation and Lemminkäinen Group have signed a letter of intent on cooperation in nuclear power plant construction projects to be implemented in Finland. Negotiations with plant suppliers are ongoing.

”We are talking about significant contracts worth several hundred million euro. We will purposefully continue with the negotiations together,” says Timo Kohtamäki, President and CEO of Lemminkäinen Group.

”We are providing a strong Finnish alternative. Together, we will be able to offer the necessary resources and competence in terms of both quantity and quality. Joining forces in such highly demanding and lengthy projects is justified,” says Juhani Pitkäkoski, President and CEO of YIT Corporation and the chairperson of the cooperation project's management board.

Tom Ekman of Lemminkäinen Group has been named as the project manager for the cooperation project.

For additional information, please contact:
Tero Kiviniemi, Head of business segment, YIT Construction Services Finland, Tel. +358 20 433 2017
Timo Kohtamäki, President and CEO, Lemminkäinen Group, Tel. +358 2071 53263
Tom Ekman, Director, Lemminkäinen Talo Oy, Tel. +358 2071 58330


YIT CORPORATION
 

Virva Salmivaara
Senior Vice President, Corporate Communications

 

Distribution: NASDAQ OMX Helsinki Ltd, Principal media, www.yitgroup.com


YIT is a leading European service company in building systems, construction services and services for industry. The company’s 26,000 professionals serve customers in 14 countries in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2011, YIT’s revenue was approximately EUR 4.4 billion. YIT’s shares are listed on NASDAQ OMX Helsinki Ltd. YIT celebrates its 100th anniversary in 2012. www.yitgroup.com

Lemminkäinen operates in all areas of the construction sector. Lemminkäinen Group’s operations have been organised into four business sectors: building construction, infrastructure construction, technical building services and international operations. Lemminkäinen Group’s net sales in 2011 were around EUR 2.3 billion, of which international operations accounted for around a third. The Group employs some 8,400 people. Lemminkäinen Group's share is listed on NASDAQ OMX Helsinki Ltd. www.lemminkainen.fi

 

About Us

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

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