NCC International Projects ceases being a business area
12/21/2004 7:30 AM EST
On January 1, 2005, NCC International Projects will no longer be a business area within the NCC Group. In conjunction with this, business area president Per Nielsen will leave NCC’s Group management.
On March 24, 2004, NCC announced that project operations in Africa, Asia and Central America would gradually be phased out and that projects in progress would be completed.
NCC is instead concentrating its operations in the Nordic and Baltic Sea region, where the civil engineering market is expected to grow in the years immediately ahead, partly as a result of the EU’s expansion. As a result of this change, valuable expertise can be transferred to NCC’s domestic markets.
Per Nielsen will remain within NCC, working on the discontinuation of NCC International Projects.
In 2003, NCC International Projects had sales of SEK 3.9 billion, of which the regions currently being phased out accounted for SEK 1.4 billion. The profitability of operations in these markets has been unfavorable in the past two years.
For further information, please contact:
Ulf Thorné, Press Relations Manager, NCC Group, +46 8 585 523 46, +46 70 214 77 27