Peab will build development center for IKEA in Älmhult

Peab has been commissioned to build a development center for all products in the IKEA catalog, IKEA NIDIC New Development Center. The customer is IKEA Property and contract amounts to SEK 179 million.

Work will begin in autumn 2012 and occupancy is expected by year-end 2013/14. Previously, Peab and IKEA have an agreement stating that Peab will build ten new IKEA stores in the Nordic region. This new contract strengthens Peab's position in the Småland market further, which includes building a large residential project in Växjö and also the Emil i Lönneberga area in Vimmerby to Astrid Lindgren's World.

"We are very pleased to have even this contract in Älmhult, where we already are in full swing to build a new department store for IKEA," says Peab Regional Manager Fredrick Ilestedt.

For further information, please contact:

Fredrick Ilestedt, Region manager Peab +46 733 374500

Gösta Sjöström, Communication Peab +46 733 371010

Peab is the Nordic Community Builder with some 15,000 employees and more than SEK 40 billion in net sales. 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.