YIT Lietuva has recorded another active quarter in the housing market, but is monitoring signs of market stabilization
The construction companies YIT Kausta and YIT Infra Lietuva, which are part of the international YIT Group, have completed the merger process and have been operating as one company - YIT Lietuva Ltd. since the beginning of 2019. The company will be managed by Kęstutis Vanagas.
After the merger, 330 new employees were added to the former YIT Kausta team. A total of about 730 professionals will work in the united company.
The merger is a part of the international integration of YIT and Lemminkäinen corporations, after which YIT Corporation has become one of the largest construction and infrastructure development companies in Northern Europe.
"The merger strengthened the YIT Group and our company - especially in infrastructure development projects. While it took some time to streamline the management and operation processes of the two companies, the merger has been smooth and has given us a greater competitive advantage and the ability to share best practices,” says Vanagas.
According to K. Vanagas, the experience and competence of the former company Lemminkäinen in infrastructure projects will allow YIT Lietuva to become more active in this field, as well as to undertake larger-scale projects involving the development of real estate and surrounding infrastructure.
After the merger of companies, YIT Lietuva will continue its development of general contractor services, commercial real estate and housing business, maintenance business and infrastructure and road construction projects.
International Groups YIT and Lemminkäinen merger has announced in February of 2018. After the merger, YIT became the largest group of construction companies in Finland and one of the largest in Northern Europe. In total, YIT Group operates in 11 countries. They employ over 10,000 people. employees who create functional, attractive and sustainable cities and industrial areas with their customers.