YIT to collaborate with Patria on property maintenance in Finland

Investor News        13 November 2012 at 2.30 p.m.

 

 

 YIT to collaborate with Patria on property maintenance in Finland

YIT and Patria have signed an agreement on the transfer of the maintenance and service business related to Patria’s production facilities. The business will be transferred to YIT Kiinteistötekniikka Oy.

As part of the transaction, 20 employees of Patria will transfer to YIT Kiinteistötekniikka Oy as existing employees on 15 November 2012.

In accordance with the agreement, YIT will be comprehensively responsible for maintaining Patria’s properties and improving their energy efficiency. The properties are located in Halli in Jämsä, Tikkakoski in Jyväskylä, Sastamala, Hämeenlinna, Linnavuori in Nokia, Utti, Malmi in Helsinki, Naulakatu in Tampere, Espoo and Helsinki. The total area of the properties is about 175,000 square metres.

“Patria wants to focus increasingly on its core competences. We are confident that as a major operator in its field, YIT will offer us professional and reliable property maintenance services. Our collaboration also aims at a minimum of EUR 3 million in savings in maintenance and energy costs over a five-year period, and YIT guarantees us savings of EUR 2.1 million. We are also pleased that Patria’s property maintenance experts will continue to collaborate with us through YIT,” says Ville Jaakonsalo, Chief Administration Officer, Patria.

“We will provide comprehensive and cost-effective property maintenance and energy management services to Patria. By improving the efficiency of property maintenance and investing in energy efficiency in collaboration with Patria, we will be able to reduce energy consumption and produce considerable cost savings without compromising production and office conditions. The experience and expertise of the employees transferring from Patria will enhance our competences,” says Ville Tamminen, Senior Vice President, Marketing and Sales, YIT.

For further information, please contact:

Ville Tamminen, Senior Vice President, Marketing and Sales, YIT Kiinteistötekniikka Oy, tel. +358 50 390 0129, ville.tamminen@yit.fi

Ville Jaakonsalo, Chief Administration Officer, Patria, tel. +358 50 088 1070, ville.jaakonsalo@patria.fi

 

 

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

Patria is a trusted provider of defence, security and aviation life-cycle support services and technology solutions. Patria is owned by the State of Finland (73.2%) and the European Aeronautic Defence and Space Company (EADS N.V.) (26.8%). www.patria.fi

About Us

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, Baltic Countries, 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 restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation’s share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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