YIT is a publicly traded construction company based in Helsinki, Finland. Today's YIT with a pure construction company was established in July 2013 when the former building services and facilities management under the name Caverion was spun off as an independent publicly traded company.
The origin of YIT goes back to 1912 when the Swedish Allmänna Ingeniörsbyrån ( General Engineering Company) opened an office in Helsinki. 1920, the Finnish branch became independent, and since then is called Yleinen Insinööritoimisto ( general engineering firm). The first projects were water supply systems for Finnish cities. From the 1970s, the company turned to the construction of buildings. 1987 merged with the Finnish YIT Oy competitors Perusyhtymä to YIT Corporation ( YIT - Yhtymä ). 1995 YIT went public, the stock is listed on the NASDAQ OMX Helsinki. Projects outside of Finland and the desire for expansion took off the 1990s internationalization of the company close. Here YIT 's strategy was to grow on two sides at once: on the one hand, the company grew large in the project development for housing one, especially in Russia. On the other hand, the proportion of the building was expanded. Here YIT grew up in the 2000s thanks to several acquisitions, the geographical territory stretched from all over North and Central Europe.
The entry into the Austrian market took place in 2008 with the acquisition of MCE Building. The business activities of the MCE extended in addition to Poland, Czech Republic and Romania, so that YIT extended far into Central Europe. 2010 followed by the acquisition of Caverion group that was spun off in 2006 from the M W Zander. YIT Germany since then has been the second largest provider of construction and Germany with 2,600 employees achieved a turnover of EUR 633 million ( 2011). On 1 July 2013, the building segment and the FM activities was spun out of the YIT Group and is managed independently under the name Caverion.