YIT RECEIVES PERMITS FOR PUTTING INTO OPERATION THE FIRST LOGISTIC CENTER IN GORELOVO INDUSTRIAL PARK
YIT has received from the local authorities of Leningrad Region (Oblast) the official permits for putting into operation of the “Gorigo logistic center” in Gorelovo industrial park near to Pulkovo, the international airport of St. Petersburg. By the end of 2008 YIT will sell the logistic center to “GORIGO” company, owned by Evli Property Investment's real estate fund. It has been agreed by YIT and Evli that the total amount of the transaction of the logistic center and the office center at Primorsky prospect, St. Petersburg, will be approximately EUR 100 million. “Gorigo logistic center” is occupying about 19 hectares of land. The center consists of two large logistics buildings with total areas of about 91,000 sq.m. Office space is about 5,000 sq.m. “Gorigo Logistic center” is one of the largest and highest class logistic centers in the South-Western region of Russia.
Gorelovo Industrial park is located on a 96 hectares land plot. YIT has purchased the land plot in the autumn 2006. In the beginning of 2007 YIT has started to develop the territory into a modern industrial park. YIT has under construction also a new meat products plant and logistics centre for Atria in Gorelovo.
Juha Kostiainen Senior Vice President, Corporate Communications and Business Development
For additional information, contact: Mr. Peter Forssell, Real Estate Development Director, ZAO YIT Lentek, phone +358 40 532 2273, email@example.com Mr. Petteri Nurminen, Managing Director, Evli Property Investments Oy, phone +358 9 476 690, firstname.lastname@example.org
YIT is a successful European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in Nordic countries, Russia, Baltic countries and Central Europe. In 2007, YIT's revenue amounted to EUR 3.7 billion. The Group employes about 27,000 people. YIT's share is listed on OMX Nordic Exchange Helsinki. www.yitgroup.com
Evli Bank Plc is an independent investment bank whose clients are entrepreneurs, corporate executives and investment professionals. Evli's primary market is the Baltic Sea region. The company operates in Finland, Sweden, the Baltic countries, and Russia. Evli also has offices in Luxembourg and through its joint venture Nordic Partners, Inc. in New York. Evli Group's equity capital totals EUR 60.9 million and the BIS capital adequacy ratio stood at 13.8% on 30 June 2008. Evli Group employs approximately 360 people.
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