Peab acquires asphalt company in Norway

Peab has signed an agreement to acquire 65 per cent of the shares in Terje Hansen AS. The company conducts manufacturing and paving of asphalt in the greater Oslo area. Terje Hansen has about 45 employees and had sales amounting to NOK 144 million during 2010.

The acquisition is dependent on the approval of the Norwegian Competition Authorities.

We consider Terje Hansen as a good addition to our Norwegian asphalt operation and the company has a very good reputation in the market. With two strategically positioned asphalt plants, it gives excellent opportunities for our development in the Oslo area, says divisional manager K G Karlsson in a statement.

For further information, contact:
K G Karlsson, division manager Peab +46 733 848589

Gösta Sjöström, CIO Peab +46733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 9.00 a.m. 5 July 2011.

Previous press releases from Peab are available at www.peab.com

Peab is one of the leading construction and civil engineering companies in the Nordic countries with approximately 14,000 employees and a net sale amounting to around SEK 38 billion. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.