Ramirent Signs Outsourcing Deal with Finnish Building Firm

Aug. 14, 2013

Finland-based Ramirent has signed a letter of intent with YIT Equipment Ltd. and Caverion Plc for the outsourcing of the equipment, operations and personnel related to Caverion operations in Finland to Ramirent. Also, Ramirent Finland Ltd and Caverion Plc have an intention to sign a co-operation agreement for equipment rental and services.

Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Caverion Corp. was established through the partial de-merger of YIT Corp. on June 30 when YIT’s building services and industrial services operations were transferred to an independent company.

Ramirent expects to sign the final agreement by the end of October.

“We are delighted that YIT Equipment Ltd. and Caverion Plc have chosen Ramirent as their potential strategic partner,” said Magnus Rosen, Ramirent CEO. “Our aim is that we will meet and fulfill Caverion’s expectations for world-class equipment rental services and to build a long-term relationship that benefits both parties.”

Ramirent, based in Vantaa, Finland, near Helsinki, has operations in 11 countries. The company has annual sales in Finland of about €167 million (about U.S. $221.4 million) with a network of 76 branches.