YIT HAS TRANSFERRED THE OWNERSHIP OF LOGISTICS FACILITIES TO UBS MANAGED FUND

INVESTOR NEWS       14 May 2012 at 14:00

 

 

YIT HAS TRANSFERRED THE OWNERSHIP OF LOGISTICS FACILITIES TO UBS MANAGED FUND

Ownership of the Tiilitie Logistics facilities, built by YIT Construction Ltd., has been transferred to the ECH 2 S.ÁR.L. fund managed by the international investment company UBS. The transfer was completed as the closing terms of the previously signed sales agreement were met. After the completion of the sale signed on 30 April 2012, the fund owns the two logistics facilities in the Petikko district of Vantaa, Finland. The total approximate value of the facilities is EUR 40 million.

The international LEED environmental classification is being applied to the project based on energy-efficient solutions leading to the utilisation of green energy and lower water consumption levels.

Tiilitie Logistics comprises two separate property companies which have a combined total of approximately 27,000 square metres of storage, production and office space. The project was carried out in two phases. The first phase of 10,000 square metres was completed in 2011. The second phase, completed in April 2012, has a surface area of 17,000 m2. Two companies, Oy Lining Ab and Scanoffice Oy, have already moved into the premises.

Tiilitie Logistics was built to comply with the Trade Park concept of YIT logistics construction systems. The concept consists of flexible premise and service solutions that enable quality office and production facilities to be located under the same roof as storage facilities.

For further information, please contact:
Seppo Martikainen, Vice President, Transactions, YIT Construction Ltd, tel. +358 400 460 913, seppo.martikainen@yit.fi
Jukka Hanhilahti, Director, Logistics Construction Services, YIT Construction Ltd, tel. +358 40 557 6514, jukka.hanhilahti@yit.fi

YIT CORPORATION

 

Kristina Broman
Acting Vice President, Corporate Communications

 

 

YIT is celebrating 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.yit.fi

 

 

 

 

 

 

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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