NCC sells granite operations
NCC sells granite operations NCC is selling both of its granite operations, JoGra (Norway) and Grantax Lda. (Portugal). The divestments will have only a marginal effect on NCC Group earnings and sales. Both of these operations are part of NCC's acquisition of the Norwegian company Rieber Roads, which was concluded on November 1, 2000. JoGra and Grantax are included in the NCC Industry business area's Norwegian operations and have combined sales of about SEK 90 M on an annual basis. The divestments are part of NCC's strategy to sell operations that do not fit in optimally in the Group's structure, and to reduce the amount of tied-up capital in NCC Industry. JoGra, which mainly offers granite for exterior environments, is being sold to the Norwegian corporate group, A.P. Stensgruppen og Grönseth. The transfer of ownership will become effective on July 1, 2001. Grantax, which primarily produces edge and bridging stone of finely grained gray granite, is being sold to RoGranite Lda of Portugal. The transfer of ownership will become effective at the end of summer 2001. "We are convinced that both of these operations will now benefit from professional owners with major competence in the production and marketing of stone products," says Kyrre Olaf Johansen, President of NCC Industry Norway, in a comment on the transactions. For further information, please contact: Kyrre Olaf Johansen, Director NCC Industry Norway, tel +47 22 98 68 23, +47 916 33 138 Gisela Lindstrand, Press Officer NCC AB, tel 08-585 523 46 eller 070-392 95 00 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 and Baltic Sea region. NCC has annual sales of approximately SEK 40 billion, with 25,000 employees. The NCC Group is divided into six business areas: Contracting, Housing, Property Development, Industry, Telecom and Service. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/06/29/20010629BIT00030/bit0001.doc http://www.bit.se/bitonline/2001/06/29/20010629BIT00030/bit0002.pdf