Settlement between Swedish Maritime Authority and Nordic Marine Contractors

Settlement between Swedish Maritime Authority and Nordic Marine Contractors A settlement has now been reached between the Swedish Maritime Administration and Nordic Marine Contractors, an international consortium in which NCC is the lead company, regarding the cancelled contracts to cover the M/S Estonia. In accordance with the settlement, the Maritime Administration will receive between SEK 100 million and SEK 150 million from Nordic Marine Contractors, depending on the outcome of the insurance issue. However, due to the distribution of liability within the consortium, NCC will not incur any costs. Following the Swedish Government's decision in June 1996 to discontinue the covering work, the intention was to complete the foundation reinforcement work. A deformation of the seabed occurred in July 1996, following which foundation reinforcement work was not resumed. Claims to insurance companies were filed. Questions should be directed to: Nils-Erik Blomström, NCC International (Tel: +46-8-655 17 01, or +46-7+-567 12 09). In case of voice mail, please leave a message or contact Eva Jonson (tel: +46-8-655 22 71) for further information. All NCC:s pressreleases can be found on www.ncc.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/07/05/20000705BIT00430/bit0001.doc http://www.bit.se/bitonline/2000/07/05/20000705BIT00430/bit0002.pdf