YIT ACQUIRES COOLING AND HVAC COMPETENCE IN AUSTRIA

YIT ACQUIRES COOLING AND HVAC COMPETENCE IN AUSTRIA

YIT Austria GmbH has signed two share purchase agreements. In Graz YIT as purchaser and Michael Pucher as seller have signed an agreement about the acquisition of an Austrian cooling solutions and services provider P&P Kälteanlagenbau GmbH. In Linz YIT has agreed with Mario Mayer about the acquisition of WM Haustechnik GmbH. Both transactions will include all employees, clients and service agreements. With the assumption that all legal requirements have been fulfilled, the transactions are intended to be closed on 1.1.2012.

P&P Kälteanlagenbau GmbH has approximately 50 employees. The revenues of the company in 2011 was approximately EUR 11 million. P&P has almost 900 service agreement clients and it is one of the leading retail sector cooling solution providers in Austria. P&P Kälteanlagenbau has its head quarters in Graz and the strongest business in southern Austria. WM Haustechnik GmbH is a local HVAC specialist in the city of Linz with approximately EUR 1 million annual revenues.

"We consider these acquisitions an important step in implementation of our strategy. YITs aim is to increase the share of service and to fulfill the scope of technical offering to cover the entire building systems. With this acquisition we get a lot of new service agreement clients as well as highly skilled cooling and HVAC specialists into our team. By combining the new competences to the existing building systems services we can offer our clients even wider solutions and services.", says Manfred Simmet, the CEO of YIT Austria.

More information:
Karl-Walter Schuster, Head of YIT Building Services Central Europe, +49 172 831 0452
Manfred Simmet, CEO, YIT Austria GmbH, +43 664 830 1945

YIT CORPORATION

Virva Salmivaara
Senior Vice President, Corporate Communications

Distribution: Principal media, local media, www.yit.fi

YIT is a leading European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in the Nordic countries, Central Europe, Russia and the Baltic countries. In 2010, YIT's revenue was EUR 3.8 billion. The Group has about 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.

YIT Austria GmbH is one of Austria’s leading suppliers of technical building equipment and services across all sectors, including facility management and energy-saving solutions. YIT Austria has 7 branches and more than 600 employees in Austria.