Caverion

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 it as an independent company. The company designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. In 2012, its revenue amounted to approximately EUR 2.8 billion. The company has over 18,000 employees in 13 countries in Northern and Central Europe.

The history of the present YIT Corporation began in 1912, when the Swedish consulting engineering company Allmänna Ingeniörsbyrån (AIB) established a branch office in Helsinki. Finnish business men continued the operations by establishing a company named Ab Almänna Ingeniörsbyrån - Yleinen Insinööritoimisto Oy in 1920. Yleinen Insinööritoimisto (later YIT) became the leading builder of water supply plants in Finland and built water supply systems for most of Finland's cities. Towards the end of the 1930s, the operations expanded into water management systems for the forest industry, at the end of 1940s into the import and trade of water supply pipes and in the mid 1950s also to other areas of construction. In the 1970s, YIT began to provide property service and maintenance as well as technical expertise in addition to its core construction competence. YIT also expanded its operations into the maintenance of steel structures and industrial pipelines.

YIT expanded its operations from construction into building systems by acquiring Huber Oy, specialist in industrial projects, maintenance and plumbing work. Huber was the leading company in this field in Finland and with it YIT also gained a foothold in the Swedish market. With the acquisition, YIT became a significant building systems and industrial service company.

YIT acquired the Swedish building systems company, Calor Ab. This acquisition made YIT a major industrial pipeline and HV contractor in Sweden.

Acquisition of ABB's building systems complemented the YIT's water and heating technology competence with ABB's competence in electric and ventilation systems, and provided new business in Sweden, Norway, Denmark, the Baltic Countries and Russia. YIT's personnel doubled as a result of the acquisition.

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