HeidelbergCement and Kongsvinger merge precast concrete activities
HeidelbergCement Northern Europe (HCNE) and KB Gruppen Kongsvinger (KBG) have agreed to merge Abetong and Contiga, the precast concrete activities of the two companies, respectively. The Abetong and Contiga brands will continue to operate in parallel in the new combined entity which will be active in Norway, Sweden, Denmark, Germany, Poland and Latvia. HCNE will be the majority shareholder in the new entity which had pro forma revenues in 2014 of 3.3 billion SEK. The deal is subject to approval from the relevant competition authorities.