YIT buys in Slovakia

08 October 2010

Finnish-based construction company YIT has finalised the acquisition of Slovakian construction company Reding, the transaction having been approved by the competition authorities in Slovakia.

YIT acquired 70% of the company's shares from its founder, Ladislav Versovsky, who will continue as chairman and shareholder with the remaining 30%.

Established in 1997, Reding concentrates on residential and commercial buildings, and is said to have a good market position in Bratislava and its neighbouring areas. It will continue to operate as a general contractor, as well as a developer of residential and commercial projects, under the name YIT Reding.

Jouni Forsman, director of YIT's construction services in the Baltic and Central Eastern Europe, said, "The acquisition provides us with a good foothold in the Slovakian market. The company has competent personnel and management, and its reputation in the market is good. The company has several ongoing construction projects, and it also has some plots for future housing and real estate development projects."

Mr Versovsky said, "By combining the knowledge of local personnel with the international experience of YIT, we can develop our services and increase our competitiveness."

Yit recently acquired Caverion, a company which provides building system services in Central Europe.


Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Andy Brown Editor, Editorial, UK - Wadhurst Tel: +44 (0) 1892 786224 E-mail: [email protected]
Neil Gerrard Senior Editor, Editorial, UK - Wadhurst Tel: +44 (0) 7355 092 771 E-mail: [email protected]
Catrin Jones Deputy Editor, Editorial, UK – Wadhurst Tel: +44 (0) 791 2298 133 E-mail: [email protected]
Eleanor Shefford Brand Manager Tel: +44 (0) 1892 786 236 E-mail: [email protected]