PRESS RELEASE 26 March 2010 at 14:00

YIT SIGNED A LETTER OF INTENT ON DEVELOPING THE ENERGY EFFICIENCY OF CHINESE     INDUSTRY                                                                        

YIT Industrial and Network Services Ltd and China Development Bank Corporation have signed a letter of intent whose aim is to improve the energy efficiency of the Chinese process industry with the help of a new cooperation model.

In the letter of intent the role of China Development Bank is to find potential production plants at which YIT will be able to plan and realise efficiency projects that will reduce the energy consumption and greenhouse gas emissions of processes. China Development Bank is a possible investor in the future efficiency projects.

”This is a great opportunity for us. China Development Bank has a very strong role in as well as customer knowledge of China's industry. I believe that we will find a cooperation model which helps us to utilise our top expertise in a new market area and to offer solutions for the needs of Chinese industrial customers,” says President Erkki Huusko from YIT Industrial and Network Services Ltd.

China Development Bank has In different countries looked for companies which are specialised in energy and environmental technology and which could help to achieve China's climate goals. “The fact that YIT has been selected as the only partner from Finland is a really remarkable show of confidence in our expertise,” says Erkki Huusko.

In Finland YIT is a market leader in industrial energy consumption efficiency services.

Remarkable savings potential in China's industry

China's aim is to decrease greenhouse gases by 40% by the year 2020. ”In industry the greatest savings potential is in energy-intensive industries such as the forest, steel and chemical industries. The condition and efficiency of China's process industry sometimes varies remarkably. Some of the plants are very modern, but a great deal of production capacity is decades old,” says Project Director Eero Siitonen from YIT.

There are approximately 8,000 paper mills and 300 steel mills in China.

For additional information, please contact: Erkki Huusko, President, YIT Industrial and Network Services, tel. +358 400 681 196 or Eero Siitonen, Project Director, tel. +358 400 423 504


Virva Salmivaara Senior Vice President, Corporate Communications

Distribution: principal media, www.yitgroup.com

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, Russia, the Baltic countries and Central Europe. In 2008, YIT's turnover was EUR 3.9 billion. The group employs some 25,000 people. www.yitgroup.com

YIT offers design, capital investment and maintenance services for industrial production processes as well as equipment and properties. In Finland YIT is a market leader in energy efficiency services for industry and real estates.