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| NCC announces divestment of Norwegian subsidiary NCC Construction AS in Norway has concluded an agreement with Larsen Atterås and Brosvik AS (LAB) in Bergen concerning the sale of all of the shares in Åsane Byggmesterforretning AS. The divestment is expected to generate a favorable impact on earnings of nearly SEK 34 million, which will be included in results for the third quarter of 2007. The takeover is scheduled for September 2007. Åsane Byggmesterforretning, which is a local contractor whose operations mainly comprise building and residential construction, has been a wholly owned NCC subsidiary since 2000. The company had sales in 2006 of approximately NOK 120 million with about 80 employees. Åsane Byggmesterforretning is active in Bergen. As a result of the divestment, NCC Construction Norway streamlines and concentrates its structure in Bergen. write your comments about the article :: © 2007 Construction News :: home page |