RAMIRENT PLC PRESS RELEASE 12 AUGUST 2013
Vantaa, Finland, 2013-08-12 14:00 CEST (GLOBE NEWSWIRE) —
Ramirent has signed a Letter of Intent with YIT Equipment Ltd and Caverion Plc for the outsourcing of the equipment, operations and personnel related to Caverion operations in Finland to Ramirent. Additionally Ramirent Finland Ltd and Caverion Plc have an intention to sign a co-operation agreement for equipment rental and services.
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.
Contract negotiations and re-organisation of operations have started. The plan is to sign the final agreement by the end of October 2013 and start the co-operation. Sakari Toikkanen, SVP business development of Caverion comments: “The operations related to Caverion’s equipment management activities in Finland employ some 20 persons and the annual turnover is approximately EUR 5 million.”
Magnus Rosén, CEO of Ramirent, comments: “We are delighted that YIT Equipment Ltd and Caverion Plc have chosen Ramirent as their potential strategic partner. Our aim is, that we will meet and fulfil Caverion’s expectations for world class equipment rental services and to build a long term relationship that benefits both parties.”
Ramirent specialises in processes related to outsourcing of in-house equipment and machinery management activities and 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 construction 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
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