Merger of subsidiaries
Nordecon AS has decided to start the merger of
two 100% subsidiaries of the group, Tariston AS and Kaurits OÜ.
Both companies have successfully been operating in the field of
infrastructure construction for a long time. The merger will
complete a strategic plan to consolidate all infrastructure
construction resources, competencies and business activities of the
group into a single company. All necessary actions for the merger
are planned to be completed by the end of the second quarter of
2023.
"By merging these two companies, Nordecon will
have a player of significant size in the field of infrastructure
construction within the group, which will set high goals for itself
with its experience and motivated team. Infrastructure construction
continues to be an important field for us and the goal is to grow,"
commented Gerd Müller, chairman of the board of Nordecon AS.
This transaction does not have any effect on
Nordecon AS group consolidated profit, assets or liabilities.
Tariston AS can be deemed to be a significant subsidiary for the
purposes of the Nasdaq Tallinn Rules and Regulations chapter
Requirements for Issuers.
Tariston AS (www.tariston.ee) is a 100%
subsidiary of Nordecon AS. Tariston's main areas of activity are
infrastructure and road construction, production and installation
of asphalt mixtures, road maintenance, mining, port and water
construction, surfacing, production and installation of traffic
management equipment and heavy equipment rental.
Kaurits OÜ (www.kaurits.ee) is a 100% subsidiary
of Nordecon AS. Kaurits' main areas of activity are road
construction, environmental construction, earthworks with 3D
machine control and rental of earthmoving machines.
Nordecon (www.nordecon.com) is a group of
construction companies whose core business is construction project
management and general contracting in the buildings and
infrastructures segment. Geographically the Group operates in
Estonia, Finland, Ukraine and Sweden. The parent of the Group is
Nordecon AS, a company registered and located in Tallinn, Estonia.
The consolidated unaudited revenue of the Group in 2022 was 323
million euros. Currently Nordecon Group employs close to 660
people. Since 18 May 2006 the company's shares have been quoted in
the main list of the Nasdaq Tallinn Stock Exchange.
Andri HõbemägiNordecon ASHead of Investor
RelationsTel: +372 6272 022E-mail:
andri.hobemagi@nordecon.comwww.nordecon.com
Nordecon As (LSE:0NZ8)
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