YIT

YIT Oyj

Type	Julkinen osakeyhtiö (Nasdaq Helsinki: YTY1V)
Industry	Construction, services
Founded	1912
Headquarters	Helsinki, Finland
Key people	Kari Kauniskangas (President and CEO), Henrik Ehrnrooth (Chairman)
Products	construction of housing, business premises and infrastructure
Revenue	€1,801 million (2014)
Number of employees	5,881 (2014)
Website	www.yitgroup.com

YIT Oyj (YIT-Yhtymä prior to 13 March 2006) is a diversified Finnish-based company, headquartered in Helsinki, which provides a range of services, mainly to other businesses. YIT's operations span three main business divisions: Building and Industrial Services provides maintenance and management services for residential property and physical plants; while the Construction Services Finland and International Construction Services units build housing, large-scale infrastructure and amenities. Almost all of YIT's business are conducted in the Nordic countries, the Baltic countries, Russia and Central Europe.

The origins of YIT can be traced back to 1912, when Sweden's General Engineering Company (Swedish: Allmänna Ingeniörsbyrån) established a subsidiary in Finland, initially to operate in the water supply sector. The Finnish translation of the group's title, Yleinen Insinööritoimisto, is the source of the name YIT. The first project undertaken by the new company was the construction of a water tower in Porvoo. The firm's field of operation was gradually broadened over the following decades, but it was not until the 1970s that the company moved beyond the civil engineering sector into construction of buildings (including residential property) and industrial works. In September 1987, Yleinen Insinööritoimisto merged with rival Finnish contractor Perusyhtymä Oy, creating YIT-Yhtymä (YIT Corporation). Since the merger, YIT's growth into new sectors has been aided by several acquisitions: in 1995, the piping design and maintenance specialist Oy Huber Ab was acquired, the same year that the company's shares were listed on the , and the Swedish pipeline installation and maintenance firm Calor AB and its Finnish subsidiary were purchased in 2001. These additions assisted a wider move into the industrial upkeep and maintenance market. Primatel, the network construction and maintenance arm of the telecommunications firm Sonera, was added in 2002, and a year later the building systems concerns of ABB in Russia and the Nordic and Baltic regions were acquired, further increasing YIT's presence in the service sector. In 2008 and 2010 YIT has continued expanding its operations into Central Europe.