Swedish NCC takes over builder Hydrobudowa Gdansk

Swedish construction group NCC is a step away from taking over a 75% stake in Hydrobudowa Gdansk, said NCC Polska representative Izabella Rokicka. Hydrobudowa is a mid-sized building firm, specializing in hydro-engineering and bridge construction. NCC plans to use these strengths for building the A2 highway, which will comprise 94 bridges and fly-overs. The Swedish investor will buy 55% in Hydrobudowa from the NFI Jupiter national investment fund, while NCC plans to acquire the remaining 20% by announcing a public bid for Hydrobudowa shares. Hydrobudowa president Wieslaw Ochnik admitted that he has been looking for a strong strategic investor for his company for quite a while. Last year Hydrobudowa recorded revenues of zl.96 million, but according to Ochnik, a Hydrobudowa subsidiary which carries out contracts in Libya brought in roughly the same amount in turnover. NCC, meanwhile, reported revenues of SKr 38.7 billion, or some zl.16.1 billion. Last year NCC acquired a 46% stake in Kielce-based road building firm PRInz, but that pack of shares did not give it full control. (Gazeta Wyborcza, p.20) T.J.