YIT merges companies
By Sandy Guthrie02 January 2019
Two subsidiaries of Finnish contractor YIT are being merged into YIT Construction from January 1, 2019, in the latest stage of the merger of YIT Corporation and Lemminkäinen Corporation.
The YIT-Lemminkäinen merger took place on February 1, 2018, and now the subsidiaries YIT Infra Oy and YIT Talo Oy have been merged into YIT Construction Ltd.
Immediately after the merger, YIT Construction was renamed as YIT Finland Ltd, which will continue the current business operations of YIT Infra and YIT Talo.
In addition, YIT Information Services Oy merged into YIT Corporation January 1, 2019.
The group said that mergers were also proceeding in the Baltic countries. In Estonia, YIT Infra Eesti AS is merging into AS YIT Eesti, and the merger is expected to be legally finalised in Estonia in January.
In Lithuania, YIT Infra Lietuva will merge first at the beginning of January into YIT Kausta, which will then be renamed UAB YIT Lietuva.
In Latvia and Russia, the mergers are planned to take place during the first half of 2019. In Sweden, Norway, Denmark, Poland, Slovakia and the Czech Republic there were said to be no overlapping business functions.
YIT said the mergers were aimed at clarifying its operations both nationally and regionally to serve its customers better.
The merger in Finland was said to have no impact on the existing business operations of YIT Infra and YIT Talo, and it added that customers were not required to take any action as a result of the changes.