Veidekke ASA: Takes over Swedish contractor

Veidekke has come to an agreement with REKAB Entreprenad AB and their owners Lemminkäinen to take over REKABs contracting operations in Uppsala effective from 1 July. The business comprises 17 officials and 30 skilled workers and has an annual turnover of approx. SEK 150 million.

Uppsala, which is 70 kilometres north of Stockholm, is a very interesting market for Veidekke, and the takeover entails a desired development of building operations for Veidekke Bygg Stockholm. At the same time Veidekke Bostad now has the opportunity to take over an attractive and planned housing property 13,000 m2 in size with sales beginning in the autumn.

"Through the takeover of REKAB's operations we will strengthen our presence and expertise in the Uppsala area. The takeover is consistent with Veidekke's strategy for growth in Sweden, and we warmly welcome the employees to Veidekke," says Anders Arfvén, who heads Veidekkes building operations in Sweden.

"With Veidekke as owner, REKAB's operations in Uppsala will get a strong owner with the capacity to contribute to further growth and development." "We are excited and enthusiastic at the prospect of joining Veidekke," says Anthony Norén, REKAB's manager in Uppsala.

For press photos, see, for more information, contact:
Anders Arfvén, Veidekke Entreprenad, tel.:+46 70 764 67 00,
CFO Jørgen Michelet, tel.: +47 91 74 38 56,
Communications Manager Helge Dieset, tel.: +47 90 55 33 22,

Veidekke is one of Scandinavia's largest contractors and property developers. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is almost NOK 24 billion (2014), and half of the 6,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.