As a part of its strategy to lead the civil engineering market of Finland, NCC Roads, a property development and construction company in the Nordic region, has contracted an accord with Destia, a Finnish company, to acquire its asphalt surfacing business.
The signed contract includes the take over of the asphalt production and paving operations related to the infrastructure sector, the unfulfilled orders and its current workforce. The signed accord awaits the sanction of the Finnish Competition Authority (FCA) and it is anticipated to be over in the first part of 2011.
Destia is a Finnish government owned infrastructure and building services providing company, which provides its services in northern Sweden, northern Norway and Finland. The asphalt production and paving operations of Destia has earned sales revenue of around SEK 390 million in 2010 and was having a backlog of orders worth around SEK 765 at the end of the year 2010. The services of around 80 employees who worked for Destia will be transferred to the new company.
According to Göran Landgren, NCC Roads’s President, the acquisition will reinforce the status of the company in the asphalt and paving sector as the second largest player in Finland.
Source: http://www.ncc.se/en/