The four companies employ 230 employees and have a total turnover of approximately SEK 270 million. They implement considerable construction operations in Skåne. Their line of business is repairing, expanding, rebuilding and maintaining buildings. The company Tullberg Entreprenad AB, which is situated in Helsingborg, also undertakes small-scale heavy construction projects. This unit carries out maintenance work on municipal roads and national highways. Veidekke plans to continue and expand the company's current market share in repair and maintenance as well as developing its expertise in new construction.

 

"Through these acquisitions we are getting a positive and quick start in the Skåne area. We have taken over a business with long traditions, a skilled and customer oriented management and a substantial expertise, and we wish to develop this business further into a leading building and construction company in the region," says President & CEO Terje R. Venold.

 

"Veidekke will now get market access to the large building and construction contracts that will be put out for tender in the Øresund area. This gives us the opportunity to successfully exploit the competence and capacity of both Hoffmann in Copenhagen and the other Veidekke companies in Sweden," says Mr. Ole Arnfinn Opsahl, Executive Vice President and manager of Veidekke's operations in Sweden.

 

Veidekke intends to conduct its business in Skåne as a 100 percent publicly owned and independent company. The present owner and managing director, Mr. Lennart Knutsson, has agreed to stay on as Managing Director of the company for five more years. The acquisition will be effective from 27 May, after completion of the financial and judicial due diligence process.

 

For further information, please contact

Terje R. Venold, President & CEO, Veidekke,

phone + 47 21 05 77 01 /+ 47 905 82 323

Ole Arnfinn Opsahl, Executive Vice President, Veidekke,

phone + 47 21 05 74 49 /+ 47 909 78 568

Lennart Knutsson, Managing Director,

phone + 46 199400 / 703743550