Peab gets thousand million contracts in the north

Peab has been contracted to carry out an expansion of the Fagernes terminal at the port of Narvik. The client is Northland Resources and the contract amounts to SEK 400 million.

Work will be performed by Peab and the project includes construction of a dock, a warmed up facility for unloading rail cars, a storage building and facilities for loading on ships. Work has begun and is scheduled for completion in April 2013.

Peab has also been contracted for the trucking operation under the brand name Cliffton with the concentrated iron ore from Kaunisvaara to the transload terminal in Pitkäjärvi outside Svappavaara. In Pitkäjärvi the ore will be loaded onto trains for transportation at Malmbanan to Narvik. The client is also here Northland and turnover in the years 2013-2021 is estimated to approximately SEK 500 million per year.

Peab has been cooperating with Northland at the mine in Kaunisvaara the last two years, with responsibility for removal of overburden, logistics and construction of a concentrator plant. These contracts mean that at least 400 new jobs will be created in Sweden and Norway.

Peab’s President and CEO Jan Johansson says:
- These contracts will create 400 new jobs in northern Sweden and Norway.

- The cooperation with Northland shows how Peab works in larger projects, where three of the Group's four business areas interact.
- The contracts in northern Sweden and Norway are good examples of how Peab in fact acts as the Nordic Community Builder.

For further information, please contact:

Fredrik Wahrolén, head of Communications Peab +46 733 371007

Gösta Sjöström, Communication 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 2.15 on 12 April 2012.

Peab is the Nordic Community Builder with 15,000 employees and a net sale exceeding SEK 40 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.