RAMIRENT FINALISED AGREEMENT WITH CAVERION FOR EQU

Vantaa, Finland, 2013-11-01 08:00 CET (GLOBE NEWSWIRE) --  

Ramirent Finland Ltd and Caverion Corporation have signed a five-year co-operation agreement for equipment rental services.  Additionally, Ramirent has signed the final agreement with YIT Equipment Ltd for the outsourcing of the equipment, operations and personnel related to Caverion operations in Finland to Ramirent. The letter of intent for this transaction was first announced on 12 August 2013.

The operations related to Caverion’s equipment management activities in Finland have an annual turnover of approximately EUR 5 million and have employed 19 persons at YIT Equipment Ltd that will now move to Ramirent as part of the agreement.

Magnus Rosén, CEO of Ramirent, comments: “We are delighted that Caverion has chosen Ramirent as their strategic partner for equipment rental. The agreement is also recognition of Ramirent’s strong capabilities related to the process of outsourcing of machinery management activities. We look forward to deliver world class equipment rental services and build a long term relationship with Caverion.”

Ramirent has a long track record of taking on large machinery fleets and providing just-in-time equipment rental services to its customers that have switched from owning to renting.

Ramirent is the leading machinery rental company in Finland with annual sales of EUR 167 million in 2012 and a network of 76 outlets.

For further information Magnus Rosén, President and CEO, tel. +358 20 750 2845, magnus.rosen@ramirent.com

About Caverion Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Caverion Corporation was established through the partial demerger of YIT Corporation on June 30, 2013, when YIT’s Building Services and Industrial Services operations were transferred to an independent company. Caverion Plc’s revenue for 2012 amounted to approximately EUR 2.8 billion. Caverion has over 18,000 employees in 13 countries in Northern and Central Europe.  

About Ramirent Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2012, the Group’s net sales totalled EUR 714 million. The Group has more than 2,700 employees at 325 customer centres in 11 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.  

DISTRIBUTION: NASDAQ OMX Helsinki, the main media, www.ramirent.com