Helsinki, 2013-12-18 09:00 CET (GLOBE NEWSWIRE) -- Caverion Corporation     Investor News                  18 December 2013 at 10 a.m.

Kemijoki Oy outsources operations and maintenance of production plants to Caverion in Finland

Caverion and Kemijoki Oy have signed an agreement to outsource operations and maintenance. The agreement affects 16 hydropower plants. Under the agreement, approximately 80 current employees of Kemijoki Oy will be transferred to Caverion Industria Ltd on 1 March 2014 as existing employees.  

Kemijoki Oy has currently a change phase in progress to be a client and specialist organization in hydropower production, which will purchase a significant number of its current functions from service providers in the future.

“With the new operating model, we are able to renew ourselves better and adjust to changing needs. Instead of construction, the company’s future investments will concentrate on developing the responsibility of its operations for example in environmental matters. With Caverion we had a common vision about the service coverage and qualitative content. In the selection criteria, experience and resources, the implementation method of the services and paying attention to responsibility were highlighted,” says Tuomas Timonen, the President and CEO of Kemijoki Oy.

Caverion Industria Ltd is one of Finland's leading industrial service providers, and the company has a long experience in various fields of industry in operation and maintenance outsourcing.

“We found a common ground with Kemijoki Oy on the implementation of the outsourcing project. Caverion Industria’s solutions rely strongly on responsibility from the point of view of both personnel and the environment, and we are all committed to it. As a market leader we are also well able to utilize our resources in Northern Finland in the project”, says Erkki Huusko, the President and CEO of Caverion Industria Ltd.

In addition, Kemijoki Oy signed an agreement with Administer Oy to transfer financial and payroll administration operations.

For further information, please contact:

Caverion Industria Ltd: Erkki Huusko, President and CEO, tel. +358 400 681 196, erkki.huusko@caverion.fi

Kemijoki Oy: Tuomas Timonen, President and CEO, tel. +358 50 386 0448, tuomas.timonen@kemijoki.fi

Caverion designs, builds and maintains user-friendly and energy-efficient building systems and offers industrial services. Our services are used in offices and retail properties, housing, public premises and industrial plants, among other places. We aim to be the number one building systems company in Europe. Our strengths 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. Our revenue for 2012 amounted to approximately EUR 2.8 billion. Caverion has over 18,000 employees in 13 countries in Northern and Central Europe. www.caverion.com

Kemijoki Oy is the most significant generator of hydropower in Finland. The company owns 20 hydropower plants, of which 16 are located in the Kemijoki water system, two in Lieksanjoki and two in Kymijoki. In addition, it regulates the Lokka and Porttipahta reservoirs and Kemijärvi and Olkkajärvi. The total power rating of the power plants exceeds 1,100 MW. In 2012, the company’s hydropower plants generated electric energy to a total of 5,037 gigawatt-hours, which was approximately one third of the domestic electricity generated through hydropower.