NCC acquires Lithuanian construction company

NCC Construction Finland has entered into an agreement concerning the acquisition of Siauliu Titanas UAB, a Lithuanian construction company. Siauliu Titanas has approximately 200 employees and reported sales of EUR 13.8 million (approx. SEK 130 million) in 2006.

Siauliu Titanas is active throughout Lithuania in the construction of both residential and commercial properties and also holds development rights corresponding to 325 homes. The seller is the company’s principal owner and president, Stanislovas Valius, who will continue to serve as president of the company.

As a result of the acquisition, NCC strengthens its position in the Baltic countries, which has become an increasingly important market for NCC. During recent years, NCC has gradually increased its presence in the Baltic countries and construction commenced on slightly more than 400 proprietary housing units in 2006. Since 2003, NCC has had a subsidiary in Lithuania, NCC Pletra, for the development of housing. This company has annual sales of approximately EUR 0.5 million (approx. SEK 5 million).

“We believe in continuing robust growth in the Baltic countries, primarily within residential construction. The acquisition of Siauliu Titanas will increase our opportunities to compete in Lithuania, since our existing operations will now been given increased resources,” says Timo U. Korhonen, President of NCC Construction Finland.



If you have any questions, please contact:
Annica Gerentz, Senior Vice President Corporate Communications NCC AB,
+46 8 5855 22 04