YIT signed an agreement to construct the largest wooden school centre in Finland to Imatra

YIT CORPORATION Press release May 14, 2018, at 10:30 a.m.

YIT signed an agreement worth approximately EUR 55 million with the City of Imatra, Finland, to construct a wooden school centre in the city’s Mansikkala district. The agreement also includes maintenance for 20 years. The project will be implemented using the life cycle model that covers the design, construction and maintenance of the premises. The building permit for the project is expected to be granted in summer 2018, after which the project will be entered in the order backlog. The school centre is expected to be completed in 2020.

The Mansikkala school centre will be the largest wooden school in Finland. The school centre will include learning spaces for around 1,350 children and adolescents from day-care to upper secondary school as well as spaces for pupil welfare. Additionally, a child health clinic and business premises for an Adult Education Centre and associations will be located on the premises. “We are excited to be a forerunner in this as well. In addition to the investment, the price includes renovation and maintenance for two decades” says Kaisa Heino, who signed the contract as Deputy to Mayor.

YIT has extensive experience in implementing school projects using the life cycle model in which design, implementation and operation are combined into a cost-efficient package. The model emphasises partnership between a public and private operator, with the project being prepared in co-operation while taking into account the life cycle of the entire project.

For further information, please contact:

Hanna Malmivaara, Vice President, Communications, YIT Corporation, tel. +358 40 561 6568, hanna.malmivaara@yit.fi

Esa Neuvonen, Executive Vice President, Business Premises segment, YIT Corporation, tel. +358 40 500 1003, esa.neuvonen@yit.fi    

YIT is the biggest construction company in Finland and a major player in Northern Europe. We construct and develop apartments, business premises and entire residential areas. Furthermore, we are specialists in infrastructure construction and paving. Together with our customers, our 10,000 professionals create increasingly functional, appealing and sustainable cities and living environments. We have operations in 11 countries: Finland, Russia, Scandinavian and Baltic countries, the Czech Republic, Slovakia and Poland. The new YIT was created by the merger of YIT Corporation and Lemminkäinen Corporation, both over 100 years old, on February 1, 2018. In 2017, our pro forma revenue amounted to over EUR 3.8 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. www.yitgroup.com  

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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