August 31, 2005
YIT becomes majority stakeholder in the Estonian electrical contracting company A/S Emico
The YIT Groups YIT Building Systems Oy has, with a contract of sale dated August 30, 2005, acquired a majority holding in the Estonian company A/S Emico.
A/S Emico and its wholly owned subsidiary Emico Elekter Oü are engaged in electrical contracting and servicing operations. A/S Emico was founded in 1992. The company had revenue of EUR 2 million in 2004 and it has about 30 employees. The companys operational management will stay on in their current positions and retain their minority holdings. Emico is focused on the electrification of industrial and commercial buildings, electrical contracting on public premises as well as property maintenance and servicing.
YIT Building Systems Oy is the Nordic market leader in building system services. This acquisition is in line with the companys strategy of bolstering its operations in Estonia, Latvia and Lithuania. YIT Building Systems offers electrical, illumination, HEPAC, security, automation and A/V systems. Its service chain covers the entire life cycle of properties, from design to installation and maintenance. Its business territories include the Nordic countries, the Baltic countries and Russia.
For further information:
YIT Building Systems Oy
Country Manager, Russia and the Baltics
tel. +358 40 580 7255, email@example.com
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