MT Højgaard sells service activities in Promecon

The service activities in the steel- and piping business Promecon is to be sold, and the re-maining part is to be discontinued.

MT Højgaard has sold Promecon’s service activity to the competitor L&H-Rørbyg with effect from 15 December 2010.

- Promecon’s activities no longer fit MT Højgaard’s focus, and consequently we have chosen not to be part of them anymore. With L&H-Rørbyg the service activities get a well-established new owner with this area as their central point. At the same time the market for traditional steel projects has been declining the past few years, so we are discontinuing our few remaining activities in this area. We are very pleased with this solution, says MT Højgaard’s President and CEO, Kristian May.

The service entity has 133 employees and constitutes the largest part of Promecon, which is a wholly owned subsidiary of the MT Højgaard group. The smaller project entity will be discontinued, and as far as it is relevant attempts will be made to offer the remaining employees employment in MT Højgaard’s business area for steel bridges.

The agreement with L&H-Rørbyg and the discontinuation of Promecon’s remaining activities are not expected to affect MT Højgaard’s outlook for 2010.

L&H-Rørbyg A/S (www.lh-rorbyg.dk) is one of Denmark’s leading businesses within plumbing, sprinklers, district heating and industrial piping, and together with the parent company Kemp & Lauritzen A/S and the sister subsidiary Klimodan A/S it is one of the country’s most experienced industrial engineering contractors.