Peab expands the Gothia Towers in Gothenburg

Peab has signed a partnering agreement with Svenska Mässan, the Swedish exhibition & congress centre, to implement an expansion of the Hotel Gothia Towers in Gothenburg. The customer is Svenska Mässan and the contract amounts to approximately SEK 1 billion.

Partnering agreement includes an expansion of the Hotel Gothia Towers, with a third, 29-storey hotel towers and a 6-storey body on top of existing East Tower. Hotel Gothia Towers get with this one contribution of more than 500 rooms and will be following the expansion of Europe's largest hotel, with a total of 1,200 rooms.
Both the third tower and the body will be environmentally classified under the international BREEAM.

Work will begin immediately and the entire project is expected to be ready by the end of 2014-15.

- We are delighted that the Svenska Mässan has given us that confidence. Together we will implement the expansion in close collaboration with the Swedish Exhibition Centre's daily activities. That we as the Nordic Society Builder may participate in the further development of central Gothenburg, is something we are very proud, said Sven Kerstis, division manager Peab.

For further information, please contact:

Sven Kerstis, division manager Peab +46 733 37

Gösta Sjöström, CIO Peab +46 733 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. on 9 Juni 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.