Peab acquires the Construction and Civil Engineering of Midroc

Peab has acquired Midroc Construction AB and their subsidiary Midroc Construction in Gothenburg AB. Peab hereby takes over the construction- and civil engineering activities of Midroc Construction, including all staff, ongoing contracts and the order backlog. Midroc Construction operates in the south of Sweden with the Gothenburg and Jönköping areas as the northern border. The company has around 500 employees and the turnover in 2004 amounted to SEK 900 million, of which SEK 150 million within civil engineering. The take over will be made when the Swedish Competition Authority have completed their examination, which is estimated to be in the beginning of 2006. Accepted negotiations concerning rights of participation in decision-making have been carried out. - The acquisition of Midroc Construction means that Peab further strengthens the construction- and civil engineering activities in the southern and western parts of Sweden, says Peab’s MD Mats Paulsson. - The dispose of Midroc Construction means that we can focus on and develop our other activities within the real estate sector, such as real estate development and construction management, says Roger Wikström, Midroc. For further information contact: Jan Johansson, Deputy MD Peab +46 733 37 40 00 Roger Wikström, Midroc +46 705 74 89 60 Gösta Sjöström, Information manager Peab +46 733 37 10 10 Previous press releases from Peab are available at www.peab.com