NCC acquires construction operations in Norway
NCC Construction in Norway has entered into an agreement to acquire the Norwegian construction company OKK Entreprenör AS. OKK’s core operations focus on the production of housing units and commercial properties. OKK operates in Oslo and in the Drammen region southwest of Oslo. OKK generates annual sales of approximately SEK 1 billion and has 350 employees.
The acquisition of OKK is in line with NCC’s growth strategy in Norway, which encompasses all business areas. NCC is already a powerful player in the Oslo region and aims to further strengthen this position.
“The development resulting from the high rate of population growth caused by urbanization and the overall need for additional housing units in Norway are factors contributing to the strong growth expected in both Oslo and the Drammen region”, says NCC’s CEO Peter Wågström.
The acquisition of OKK will provide NCC with a stronger geographic base and create the necessary conditions for future growth in Oslo and Buskerud. The acquisition will also complement NCC’s existing expertise in residential production, renovation and building services.
The acquisition is contingent on the approval of the Norwegian competition authority and is subject to various conditions that must be fulfilled before the transaction can be completed.
For further information, please contact:
Peter Wågström, CEO,NCC AB, Tel. +46 (0)8585 530 40
Peter Gjörup, President, NCC Construction Norway, Tel. +47 452 94 411
Greeg Nordqvist, Head of Mergers & Acquisitions, NCC AB, Tel. +46 (0)8 585 520 59
NCC’s media line: +46 (0)8585 519 00, e-mail press@ncc.se
This is the type of information that NCC could be obligated to disclose pursuant to the Securities Market Act. The information was issued for publication on June 28, 2012 at 8:50 a.m. CET.
All of NCC’s press releases are available on www.ncc.se.
NCC is one of the leading construction and property development companies in the Nordic region. In 2011, NCC reported sales of SEK 53 billion, with 17,500 employees. NCC Construction Norway builds housing units, offices, roads, civil engineering and other infrastructure in Norway.