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NCN: Construction contract - Nordecon Ehitus

Spekuliantai.lt | 2009-12-16 | NASDAQ OMX biržų naujienos | perskaitė: 1106
Raktiniai žodžiai: Nordecon International AS, NCN
NCN: Construction contract - Nordecon Ehitus

Nordecon International Company Announcement 16.12.2009

Construction contract - Nordecon Ehitus

Nordecon Ehitus AS, a wholly owned subsidiary of Nordecon International AS,
signed an construction agreement with Tartu University. As per contract
Nordecon Ehitus AS builds new premises for Tartu University college situated in
Narva (North-East part of Estonia). The works also include building of outdoor
communications and restructuring of adjacent streets.

The contract value is approximately 62.1 million kroons (4.0 million euros).
The construction of Narva College is financed by European regional development

The period of construction is between December 2009 and June 2011.

Nordecon International is a group of construction companies whose core business
is general contracting and construction management in the construction of
buildings and infrastructures in Estonia, Latvia, Lithuania and Ukraine. In
addition, in Estonia our companies act as independent contractors in road
construction and maintenance, environmental engineering, the assembly of
reinforced concrete elements, and the performance of cast-on-site concrete
works. The parent of the Group is Nordecon International AS, a company
registered and located in Tallinn, Estonia. In addition to the parent company,
there are more than 20 subsidiaries in the Group. The consolidated revenue of
the Group in 2008 was 3.9 billion kroons (247 million euros) and the
consolidated net profit was 171 million kroons (11 million euros). Nordecon
International Group employs more than 1,000 people. Since 18 May 2006, the
company's shares have been quoted in the main list of the NASDAQ OMX Tallinn
Stock Exchange.

1 euro = 15.6466 kroons

Raimo Talviste
Nordecon International AS
Head of Finance and Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com

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