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YIT will build a modern logistics centre for Wärtsilä in Vaskiluoto, Vaasa, Finland

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YIT Corporation Press release 3 June, 09:30 a.m. 

YIT and technology company Wärtsilä have agreed on the construction of the Smart Technology Hub’s logistics centre in Vaskiluoto, Vaasa, Finland. In addition to the construction of the logistics centre, the turnkey contract comprises the demolition of existing buildings on the plot and soil restoration. The construction work begins in June 2020. The logistics centre is scheduled to be completed by the end of October 2021.

“The logistics centre will cover an area of approximately 14,500 m2, and its volume will be as high as 250,000 m3. It will use a digital platform to take care of the logistics of materials needed. For this purpose, the centre will be fitted with modern information technology. This project refines Reininkatu’s traditional logistics plot for further use in logistics,” says Mikael Snellman, VP, YIT.

Smart Technology Hub is Wärtsilä’s research, product development and production centre focused on the testing and development of solutions for the maritime, oil and gas industries as well as new energy systems.

“I am very happy to see that the Smart Technology Hub project is on schedule and that we now get to also build the logistics centre in cooperation with YIT, since this centre is of high importance for the Technology Hub’s operations. I wish to thank the City of Vaasa and the residents and companies in the area for fruitful cooperation in spite of the challenging construction schedule. It’s great to see how well our investment on Vaskiluoto and the ecosystem forming around it have been received,” says Wärtsilä Finland’s Managing Director CEO Vesa Riihimäki.

Wärtsilä’s financing partner in the Smart Technology Hub project is SEB Leasing Oy. The local detailed plan of the logistics centre has been legally valid in May and the building permit has been granted in June.

With the logistics centre investment decision, the total investment on Smart Technology Hub rises to over EUR 230 million. To follow the project and the forming of the ecosystem surrounding it, visit the website: www.smarttechnologyhub.com. 

For further information, please contact:

Mikael Snellman, VP, Building Construction, Ostrobothnia, YIT, tel. +358 (0)40 721 5835, mikael.snellman@yit.fi

Vesa Riihimäki, President and CEO, Wärtsilä Finland Oy, tel. +358 (0)10 709 2964, vesa.riihimaki@wartsila.com

Hanna Malmivaara, Senior Vice President, Group Communications, YIT Corporation, tel. +358 (0)40 561 6568, hanna.malmivaara@yit.fi

Appendix: Illustration of the logistics centre, Wärtsilä

YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We operate in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, the Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2019, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com