YIT HAS COMPLETED THE SALE OF ITS BUSINESS OPERATIONS IN HUNGARY
YIT has completed the sale of its operations in Hungary to Imtech N.V. The sale will become effective on 1 June 2011, after which time YIT’s operations in Hungary will fall under the ownership of Imtech. The transaction has no major effect on YIT’s cash flow or result.
YIT has provided building system services in Hungary. The turnover of YIT's operations in Hungary was approximately €10 million in 2010.
With the divestment, YIT is implementing its strategy to focus on developing its operations in a market in Central Europe, where it enjoys a stronger market position and has better growth opportunities than in the Hungarian market.
For additional information, please contact:
Vice President, Investor Relations
Distribution: NASDAQ OMX, 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, Central Europe, Russia and the Baltic countries. In 2010, YIT's turnover was EUR 3.8 billion. The Group has nearly 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki. The market leader in its industry in Finland, YIT Building Services produces all services related to the installation, maintenance and repair of building systems and services related to the use of the facilities.