YIT to sell water and environmental engineering services to Econet Engineering
YIT has signed an agreement on the sale of its water and environmental engineering service business to Econet Engineering Ltd. The sale of the business operations will become effective on 1 April 2009, with 23 employees joining Econet Engineering as a result. "We wanted to find a buyer for the civil engineering services whose core business is in the field. Econet Engineering has an extensive network in the market and good opportunities for developing the business," says Tero Kiviniemi, President of Construction Services Finland. "Econet Engineering will invest significantly in exports over the next few years. This acquisition will reinforce our business and export expertise. With the acquired business operations, we will be the market leader in Finland in select areas of environmental business services," says Matti Leppäniemi, Managing Director of Econet Engineering.
For further information, please contact: YIT Tero Kiviniemi, President of Construction Services Finland, tel. +358 40 519 0112, firstname.lastname@example.org Econet Engineering Matti Leppäniemi, Managing Director, tel. +358 40 553 3001, Matti.email@example.com
YIT Corporation Veikko Myllyperkiö Senior Vice President, Corporate Communications
Distribution: principal 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, Russia, the Baltic countries and Central Europe. In 2008, YIT's turnover was EUR 3.9 billion. The Group has over 25,000 employees. YIT's share is listed on NASDAQ OMX Helsinki. www.yit.fi
Econet Engineering Oy is an engineering company specializing in planning and managing water, wastewater and environmental technology solutions. The company's main areas of operations are municipal and industrial waterworks, wastewater treatment plants and biological treatment method planning, project leading and construction. www.econetengineering.fi