Unicon Group becomes Scandinavia's largest ready-mix concrete producer

With the Norwegian companies Franzefoss Bruk AS and Stange Betong AS as partners, Unicon Group is forming Norway's largest ready-mix concrete business.

Unicon Group, a member of the FLS Group, and the Norwegian companies Franzefoss Bruk AS and Stange Betong AS have together formed Unicon AS based in Norway. Controlling 50.5 per cent of the shares, Unicon Group is the majority shareholder in the new company, with Franzefoss Bruk AS and Stange Betong each contributing 24.75 per cent of the capital.

As announced in the Stock exchange message issued on 30 May 2000, Unicon by the end of May took over the Norwegian ready-mix concrete operations of HF-Gruppen AS and HG Betong AS, previously controlled by Veidekke AS, Norway's largest building contractor. These operations and the total ready-mix activities of Franzefoss Bruk AS and Stange Betong AS plus the existing Unicon Group business in Norway, Unicon Betong AS, will be integrated into the new company.

Based on sales, the new jointly owned company will cover about a third of the Norwegian market for ready-mix concrete. Meanwhile, the recent expansion in Norway clearly places Unicon Group in the forefront of the Scandinavian market.

Unicon AS will operate 29 concrete mixing plants throughout southern Norway, the main concentration of facilities being around Oslo. The new company will have a workforce of about 140 people and an estimated turnover of NOK 500m (over EUR 60m).

The formation of Unicon AS is subject to final approval by the Norwegian authorities which is expected in early July 2000.

Unicon Group entered the Norwegian market in early 1999 with the acquisition of Noco Betong as it was formerly called. The expansion in Norway is a significant step towards Unicon's overall goal of international growth based on a strong presence in regional markets in Scandinavia, USA and Poland / Eastern Europe.

The formation of the new company will not raise the prospects for Unicon's earnings this year due to a number
of non-recurring costs generated by the integration of the new undertaking into the Unicon Group.

FLS Industries A/S
Corporate Public Relations