SOLNA, Sweden, August 20, 2003 (PRIMEZONE) -- NCC Construction Denmark and Hoejgaard Holding have sold Betonelement to the international CRH Group. NCC and Hoejgaard have each owned 50 percent of Betonelement since 1992. The parties have agreed not to divulge the sales price. The sale will have a marginal positive impact on NCC's third-quarter earnings.
Betonelement, which has seven plants, is one of Denmark's leading producers of prefabricated concrete building elements. The company had total sales of approximately SEK 650 million (DKK 527 million) in 2002, with 550 employees.
Following its divestment, Betonelement will become part of the CRH Group, which produces and sells building supplies, mainly in Europe and the United States.
The sale, is subject to certain customary criteria, such as its approval by competition authorities.
"The transaction is in line with NCC's strategy of focusing on its core business," says Soeren Ulslev, President of NCC Construction Denmark.
For further information, please contact: Soeren Ulslev, President NCC Construction Denmark Tel +45 3910 3910 Gisela Lindstrand, Press Relations Manager NCC AB Tel +46 8 585 52346 or +46 70 392 9500 Bo Dybkaer, Communication Manager NCC Construction Denmark Tel +45 2488 7124
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 2002 sales of SEK 45 billion, with 25,000 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/2003/08/20/20030820BIT00100/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/20/20030820BIT00100/wkr0002.pdf