NCC agreed on 7 October 2026 to sell its Industry business area, which produces stone materials and asphalt across the Nordics, at an enterprise value of SEK 8.2bn (about US$0.82bn). Heidelberg Materials will take the Swedish and Norwegian operations and CRH the Danish and Finnish ones.
Why Heidelberg Materials AG and CRH plc is buying NCC Industry (stone materials and asphalt business of NCC AB)
NCC said the sale would create a more focused company specialising in contracting. Industry's business model, based on producing standardised products from fixed sites, differs from NCC's project-based, less capital-intensive contracting work. CRH said the Danish and Finnish operations would strengthen its business in the Nordics.
Deal terms and financing
NCC described the deal as a single transaction with two buyers. The price will be paid in cash on completion and is expected to bring NCC a positive cash flow of about SEK 7bn. NCC Industry had sales of SEK 12.6bn and operating profit of SEK 879m in 2025. It will be reported as a discontinued operation from the third quarter of 2026.
Regulatory approvals and timing
The transaction requires approval from the relevant authorities. NCC expects it to complete in the second half of 2027, and CRH expects completion of its part during 2027.
Market context
NCC began a strategic review of the Industry business area in 2025 and decided in early 2026 to separate it, after which it received offers from industrial buyers. Heidelberg Materials already has more than 100 sites and around 2,700 employees in Sweden and Norway.
