YIT agreed to the construction of a multi-purpose building in Pudasjärvi using the life-cycle model

YIT Corporation Investor News June 27, 2019 at 11:00 a.m. 

YIT and the Town of Pudasjärvi have signed a contract on the construction of a multi-purpose building in Pudasjärvi. The Hyvän Olon Keskus building will be implemented using the life-cycle model and covers facilities for healthcare, rehabilitation, social services, culture and youth services as well as a library and three business facilities. The total value of the contract is approximately EUR 43 million, and it will be recorded in the order backlog for the second quarter of the year. 

The Hyvän Olon Keskus building will be primarily constructed using logs. The local Kontiotuote Oy will supply the logs.  

“Log construction is an ecological choice thanks to its long service life, making it perfect for public spaces. In addition, the life-cycle model enables us to comprehensively ensure the functionality of the site and the service level required by the operations in an eco-friendly manner. We have solid experience in life-cycle projects, and this significant project serves as a continuation to the well-being centre constructed in Sodankylä using the life-cycle model,” says Hannu Soikkeli, Director of Life Cycle Projects at YIT. 

YIT previously cooperated with the Town of Pudasjärvi, Kontiotuote and Lukkaroinen Architects when building the log campus of Pudasjärvi in 2014–2016.  

“The Town of Pudasjärvi has previous experience in log construction implemented with the life-cycle model in cooperation with YIT. We have been extremely pleased with the log construction as it solved our indoor air quality issues. The new Hyvän Olon Keskus will be a natural continuation to the development of services in Pudasjärvi. Any resident, no matter their age, will be able to enjoy this modern, eco-friendly timber building,” says Tomi Timonen, Mayor of Pudasjärvi. 

The construction will begin in August 2019 and the new premises will be opened in September 2021. YIT will be responsible for the planning, building and maintenance of the site for a period of 20 years in accordance with the life-cycle model. The maintenance period will begin after the completion of the premises in September 2021. 

For further information, please contact:
Tiina Kuusisaari, Investor Relations Manager, YIT Corporation, tel. +358 (0)40 528 8154, tiina.kuusisaari@yit.fi
Esa Neuvonen, EVP, Business Premises and Partnership Properties segments, YIT Corporation, tel. +358 (0)40 500 1003, esa.neuvonen@yit.fi

YIT CORPORATION 

Hanna Jaakkola 

Vice President, Investor Relations 

Distribution: NASDAQ Helsinki, major media, www.yitgroup.com 

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