NCC sells concrete company in Denmark for SEK 132 million
NCC sells concrete company in Denmark for SEK 132 million NCC has sold its wholly owned Danish concrete company GH Beton A/S for DKK 110 million, corresponding to approximately SEK 132 million. The purchasers are Bach Gruppen A/S, Deruda International A/S and Randers Cement A/S, three Danish companies. In line with NCC's strategy of focusing on profitable core operations, the Group has sold concrete plants during recent years. Concrete plants in the Baltic countries, Finland, Norway, Poland and Russia (St. Petersburg) were sold in 2003. In August 2004, the sale of Swedish concrete operations was also completed. "We are convinced that the divested concrete operations will be able to develop favorably with new owners, at the same time as NCC will be able to proceed with the process of concentrating its resources on construction operations," says Alf Göransson, President and Chief Executive Officer of NCC. GH Beton A/S has nine concrete plants in Denmark and produces approximately 200,000 cubic meters of ready-mixed concrete per year. The company has 90 employees, generated sales revenues of about DKK 150 million in 2003 and is headquartered in Ringsted, Sjaelland. The transaction was implemented on Thursday and will be included in earnings for the third quarter of 2004. In total, the sale of the Swedish and Danish concrete operations will generate a gain of approximately SEK 80 million. The capital gain will be used for a write-down of goodwill in the NCC Roads business area. For further information, please contact: Göran Svensson, President NCC Roads, tel +46 8 585 524 49, +46 70 6210398 Greeg Nordqvist, Head of Merge & Acquisition NCC AB, tel +46 8 585 52059, +46 70 553 0426 Ulf Thorné, Press Relations ManagerNCC AB, tel +46 8 585 52346, +46 70 214 7727 All of NCC's press releases are available on www.ncc.info NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2003 sales of SEK 45 billion, with 24,000 employees. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/09/30/20040930BIT20970/wkr0001.pdf