NVS acquires Nofamo Group

NVS acquires Nofamo Group NCC's wholly owned subsidiary NVS Nordiska Värme Sana has reached an agreement regarding the acquisition of Nofamo VVS AS, a Norwegian plumbing and heating installations company based in Sarpsborg, and its subsidiary Nofamo Industri AS. Nofamo's plumbing and heating operations reported sales of NOK 168 million in 1998, with 105 employees. "Since we established a presence in Norway in 1997 through the acquisition of Drammens Rör, now named Nordiska Värme Sanitær, our objective has been to grow through additional acquisitions of companies in the plumbing, heating and industrial installations market. It is gratifying to be able to announce that we have now succeeded in acquiring a company as large as Nofamo, which will substantially boost our Norwegian operations," says Gunnar Rune, President of NVS. "Nofamo and NVS complement each other well in terms of both types of operations and geographic locations. NVS mainly has customers in Oslo and the area west of Oslo, while Nofamo's customers are concentrated in an area that starts in Oslo and extends in an easterly and southerly direction. Both Nofamo and NVS can now offer their customers a complete range of plumbing and heating installations, as well as service for industrial and sprinkler installations," says Nordiska Värme Sanitær's President, Stein Dahle, commenting on the transaction. The acquisition is expected to make a positive contribution to the NVS Group's earnings in 1999. NVS Nordiska Värme Sana AB, which had sales of SEK 1,350 million in 1998, is a full-services company in the fields of heating, sanitation, fire protection, industrial and energy installations. NVS, a wholly owned subsidiary of NCC AB, is one of Sweden's leading heating and plumbing installation companies, with approximately 1,500 employees in about 70 offices ranging from Trelleborg in the south to Gällivare in the north. In Norway, NVS is represented by Nordiska Värme Sanitær AS, which had sales of NOK 104 million in 1998. NVS has its head office in Malmö. For further information, please contact: Gunnar Rune, President of NVS (Tel: +46-40-28 77 10), or Executive Vice President Gert-Inge Olsson (Tel: +46-40-28 77 34). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/12/19990212BIT00920/bit0001.doc http://www.bit.se/bitonline/1999/02/12/19990212BIT00920/bit0002.pdf