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NCC to Sell Polish Asphalt Operations

Swedish construction company NCC AB said Tuesday it will sell its asphalt operations in Poland to Austria's Strabag AG for 1.05 billion kronor (euro116 million; US$153 million).

The sale, which is subject to regulatory approval, will probably generate a capital gain of around 400 million kronor (euro44.3 million; US$58.5 million), NCC said in a statement.

"The reason we are selling the Polish Roads operations is that we want to focus the operations and future investments of NCC Roads on the Nordic region," Chief Executive Alf Goransson said. "By releasing capital from the Polish operations, we can continue to invest in growth in the Nordic market through organic growth and through acquisitions."