NCC is divesting the Swedish operation Hercules Armering to BE Group. The operation, which is a small manufacturing unit with a factory in Norrköping, Sweden, will now have the opportunity to develop and grow.
“Hercules Armering is a first-rate operation, but it differs from our core business. In our opinion, BE Group can develop the operation better than we ourselves could, thereby enabling it to grow and add more customers,” says Tomas Dädeby, Division Manager NCC Infrastructure.
The operation currently supplies rebar primarily to NCC’s construction and civil engineering projects in Sweden, and this will also continue with the new owners. At present, the unit has some ten employees in NCC and an equal number of in-sourced personnel at the plant in Norrköping. BE Group will acquire the assets and will take over the employees as well as ongoing contracts.
“The acquisition of Hercules Armering strengthens BE Group’s offering of rebar in Sweden, and the production and storage capacity will be added in close proximity to our factory in Norrköping,” says Peter Andersson, President and CEO of BE Group.
The transaction is expected to have a marginal positive impact on earnings in the NCC Infrastructure business area in the second quarter of 2022 and is not expected to require approval from the Swedish competition authorities.
NCC’s Hercules foundation engineering operations will not be impacted by the divestment but will continue as previously.
For further information, please contact:
Tove Stål, Head of Group External Relations, NCC, +46 76 521 61 02
About NCC. NCC is one of the leading construction companies in the Nordics. Based on its expertise in managing complex construction processes, NCC contributes to the positive impact of construction for its customers and society. Operations include commercial property development, building and infrastructure project contracting, and asphalt and stone materials production. In 2021, NCC had sales of about SEK 53 bn and 13,000 employees. NCC’s shares are listed on Nasdaq Stockholm.
About BE Group. BE Group AB (publ), which is listed on the Nasdaq Stockholm exchange, is a trading and service company in steel, stainless steel and aluminium. BE Group offers efficient distribution and value-adding production services to customers primarily in the construction and manufacturing industries. In 2021, the Group reported sales of SEK 5.4 billion. BE Group has approximately 630 employees, with Sweden and Finland as its largest markets. The head office is located in Malmö, Sweden. Read more about BE Group at www.begroup.com.