Caverion and YIT continue strong co-operation in R

Helsinki, 2013-10-10 08:00 CEST (GLOBE NEWSWIRE) -- Caverion Corporation                               Investor News                                          10 October 2013 at 9 a.m.

Caverion and YIT continue strong co-operation in Russian residential construction

The building systems company Caverion has signed an agreement with YIT St. Petersburg for the implementation of building systems for a residential building to be constructed in St. Petersburg.

The value of the contract is approximately EUR 2 million. The contract covers the building systems, plumbing, ventilation and electrical systems for the apartment building.

The new building, KIMa 1, is located on Vasilyevsky Island near the centre of St. Petersburg, in an attractive residential neighbourhood surrounded by parks.  With a total of 176 residential units, the 13-storey building will be equipped to the highest standards in line with the YIT Home service concept. The residential units will be finished by YIT on a turn-key principle. The special features of the building include large balconies, saunas in some of the units and an underground car park.

“Caverion and YIT have several years of effective co-operation behind them in implementing residential developments in St. Petersburg. Caverion’s high-quality installation work and punctuality have made it a reliable partner for our residential construction projects.  The contract for the KIMa 1 project is yet another step in the development of this partnership,” says Mikhail Voziyanov, General Director of YIT St. Petersburg.

The building systems implemented by Caverion will be completed in December 2014. Construction is estimated to be fully completed in summer 2015.

Additional information: Seppo Hakala, General Director, ZAO Caverion St. Petersburg, tel.  +7 (921) 912 20 72, Seppo.Hakala@caverion.ru

Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Our services are used in offices and retail properties, housing, public premises and industrial plants, among other places.   We aim to be the number one building systems company in Europe. Our strengths include technological competence and customer-oriented service, covering all building systems throughout the life cycle of the property. Caverion was established through the demerger of building services and industrial services businesses from YIT Group in July 2013. Our revenue for 2012 amounted to approximately EUR 2.8 billion.   Caverion has over 18,000 employees in 13 countries in Northern and Central Europe. Caverion’s shares are listed on NASDAQ OMX Helsinki. www.caverion.com

YIT leads the way in the construction sector by creating more attractive and sustainable urban environments in Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. YIT builds housing, business premises and infrastructure, develops entire areas, and offers residential service concepts for consumers. YIT has over 100 years of experience and a strong market position: it is the largest residential construction company in Finland and the most significant foreign residential construction company in Russia. YIT is also one of the largest business premises and infrastructure construction companies in Finland. YIT has more than 6,000 employees in seven countries. In 2012, the company’s revenue was approximately EUR 2.0 billion. YIT’s shares are listed on NASDAQ OMX Helsinki. www.yitgroup.com