Unicon Group has today signed an agreement with A/S Ikast Betonvarefabrik (IBF) and Wewers Belægningssten A/S to sell its paving stone activities in Denmark. The sale becomes effective on 5 July 2002. Unicon Group's paving stone business in Denmark has an annual turnover of some 170m Danish kroner and employs 135 people at five production sites.
The disposal of Unicon Group's paving stone business in Denmark should be viewed against the overall FLS Group strategy of focusing and concentrating the Group's resources on core competencies as well as the derived strategy of Unicon Group to concentrate its activities on the manufacture and development of ready-mixed concrete.
"The sale marks an important step towards making Unicon a more efficient and prime supplier of ready-mixed concrete," says President and CEO Kent Arentoft, Unicon Group. "It will strengthen Unicon and enhance its efforts to focus on the growth of the ready-mix business, whilst enabling the paving stone business to continue its development under new ownership."
The disposal of the paving stone activities in Denmark is unlikely to affect the FLS Group's level of EBIT, and will not affect the most recently announced 2002 earnings forecast for FLS Industries.
FLS Industries A/S
Corporate Public Relations