YIT CORPORATION PRESS RELEASE April 20, 2006
In the spring, the Finnish Road Administration put out for competitive bids on 15 separate public road maintenance contracts in Finland. YIT landed six of the contracts in the competitive bidding and over the next few years will be responsible for the maintenance of the road systems of the Kuhmo, Kauhajoki, Kotka, Paimio, Hyvinkää and Hämeenlinna regions. The agreements are valued at around EUR 81 million and cover close to 6,500 km of public roads of different types. The new contracts will begin on October 1, 2006.
The new agreements further consolidate YIT's position as the clear market leader among private players in public road maintenance in Finland. As from October 1, 2006, YIT will be responsible for 15 maintenance contracts, which represent close to a fifth of the total value of maintenance contracts.
Head of Division Juhani Kuusisto from YIT's Infraservices states that YIT's long-term development efforts have now begun to bear fruit: "It's clearly evident that competition in the previously closed market for road maintenance has yielded substantial savings. It would also seem that the municipal sector has taken note of these savings opportunities. This sector, too, is increasingly shifting over in the maintenance of traffic routes and areas to regional contracting in which the contractor takes on total responsibility."
For additional information, contact: YIT Construction Ltd, Infraservices: Chief of Maintenance Timo Paavilainen, tel. +358 20 433 2624, email@example.com Head of Division Juhani Kuusisto, tel. +358 20 433 2059, firstname.lastname@example.org
Additional press material can be found from www.yit.fi.
Vice President Corporate Communications
Distribution: Helsinki Stock Exchange, principal media, www.yit.fi