Destia sells surfacing business to NCC
Destia has signed an agreement concerning the divestment of surfacing business with NCC. The divestment includes Destia’s asphalt manufacturing, paving operations, and the company’s existing order book and workforce. About 80 employees will move to NCC as existing employees with current conditions. The acquired operations generated sales of approximately EUR 44 million in 2010. The existing order book amounted to about EUR 80 million at year-end 2010.
The transaction is subject to the approval of the Finnish Competition Authority, FCA, and is expected to be completed during the first half of 2011.
– The divestment allows Destia to concentrate on improving its core business in line with the business strategy. By divesting the business we are strengthening our balance sheet and creating stronger preconditions to develop our core businesses, says Hannu Leinonen, President and CEO of Destia.
– The acquisition is part of NCC’s strategy to become a leading player in the Finnish civil-engineering market. At the same time, we are strengthening our current market position in asphalt and paving as the second largest player in this area in Finland after the acquisition, says Göran Landgren, President of NCC Roads.
Further information is provided by:
President & CEO Hannu Leinonen, tel. +358 20 444 4000
Destia Ltd is a Finnish infrastructure and construction service company. We build, maintain and design not only traffic routes and both industrial and traffic environments, but also complete living environments. Our services cover the whole spectrum, from comprehensive over ground operations to subterranean construction. Destia Group’s turnover in 2010 was approximately EUR 540 million. Destia employs about 2 000 people.
Destia – Building the bigger picture. www.destia.fi
NCC Roads is the NCC business area that is active in the production of aggregates and asphalt, as well as asphalt paving and road services. In the Nordic market, NCC Roads is the leading player in the sector, in which Sweden is the single largest market. In 2010, NCC Roads generated sales of SEK 10.7 billion and had about 4,000 employees.