Helsinki, July 1, 2013 - NASDAQ OMX (NASDAQ: NDAQ) announced that trading in Caverion Corporation (CAV1V) shares commenced today on the main market of NASDAQ OMX Helsinki. Caverion is a mid cap company within the sector Industrials. Caverion was formed through a partial demerger where YIT’s Building Systems business was transferred to Caverion Corporation.
Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. The services of the company are used in offices and retail properties, housing, public premises and industrial plants, among other places. Caverion aims to be the number one building systems company in Europe. The strengths of the company include technological competence and customer-oriented service, covering all building systems throughout the life cycle of the property. Caverion was established through the demerger of building services and industrial services businesses from YIT Group in July 2013. The revenue for 2012 amounted to approximately EUR 2.8 billion. Caverion has over 18,000 employees in 13 countries in Northern and Central Europe. For more information, visit www.caverion.fi.
Juhani Pitkäkoski, CEO of Caverion Corporation, commented: “Caverion is a new company, but our history goes a long way back. As an independent company we can now focus better on our core competence and also have better opportunities to become the leading building systems company in Europe. We are not only aiming for a larger market share – we also want to be the most efficient and innovative company in our field of business. Listing to NASDAQ OMX Helsinki was a logical decision for Caverion, as the majority of our vast shareholder base reside in Finland. We believe that a more clear business structure will create preconditions for the clearer business structure for increase in shareholder value. ”
Adam Kostyál, Senior Vice President of NASDAQ OMX, said: “We congratulate our existing listed company YIT Corporation on the successful completion of its partial demerger, and at the same time we would like to extend a warm welcome to the newly established Caverion Corporation, a strong addition to the leading international companies already listed on NASDAQ OMX Helsinki. We look forward to a lasting partnership with the company and its shareholders.”
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