Scandinavia's leading concrete producer, Unicon A/S, which is part of the FLS Group, has signed an agreement with Stange Betong AS and Franzefoss Bruk AS, the two Norwegian minority shareholders in the Norwegian subsidiary Unicon AS, to acquire the remaining 45.86% of the shares in the company.
By acquiring the minority holdings, Unicon has gained 100% control of its Norwegian operation whose production accounts for one third of the Norwegian market for ready-mixed concrete. The acquisition further strengthens Unicon's position as a market leader in the production, distribution and sale of ready-mixed concrete in Scandinavia and Poland.
The acquisition of the minority holdings is a natural step in the process of ripening Unicon and Aalborg Portland for sale (see Stock Exchange Announcement No. 8 - 2004).
Unicon today is a major player in Norway, Denmark, Sweden and Poland. The company has a turnover of about DKK 1.5bn and employs 745 people in the four countries mentioned. Unicon operates 26 plants in Denmark, 28 in Norway, 8 in Sweden and 9 in Poland.
The parties have agreed not to disclose the price of the shares acquired. The acquisition has no effect on the FLS Industries earnings prospects for 2004.
FLS Industries A/S
Corporate Public Relations