COPENHAGEN, Denmark, Jan. 21, 2002 (PRIMEZONE) -- NKT's real estate company, Priorparken A/S, has sold one of its properties to a Danish investor group (K/S Priorparken 680, c/o Advokatfirmaet Jordan & Logstrup) for DKK 110 million.
The profit from the sale of the property is expected to be around DKK 60 million. The amount will be included in earnings for 2002.
The NKT Group prospects for 2002 will be published on March 5, 2002 as a part of the 2001 Annual Report.
The Property Sold
The sale concerns a 27,000 m-squared site in Priorparken industrial park, Brondby, containing 21,000 m-squared of production and administration facilities. The property is on a long-term lease to OFS Fitel Denmark I/S, manufacturers of optical fibers for telecom cables.
Priorparken Industrial Park
The Priorparken industrial park, which covers 560,000 m-squared, comprises 22 separate registered properties. After the latest property sale, NKT's share of the overall Priorparken site has been reduced to 325,000 m-squared. The sale marks the realization of one more part of NKT Holding's strategy of reducing its capital tie-up in Priorparken through sale of individual properties.