Veidekke: To acquire contractor in Østfold

Veidekke has concluded an agreement to purchase all of the shares of contractor Haugerud Vikeby AS in Mysen. “This is a really good match, and we’re very pleased that we together will be able to take a larger share of the building market south of Oslo,” says district manager Ketil Gunde Andersen of Veidekke.

“We have been looking for the right opportunity to strengthen our position in the region along with our subsidiary Øst AS in Halden. We are therefore very pleased to join forces with a strong contractor with its own skilled workers, and not least a corporate culture that aligns with our own. That is after all an assumption for such acquisitions to succeed,” says Veidekke’s district manager Ketil Gunde Andersen.

The building and construction market in Østfold and Akershus south is large, not least due to the new railway Follobanen and E18 motorway that reduces travel time to Oslo significantly. With the building businesses Øst AS in Halden with a branch in Spydeberg and Haugerud Vikeby in Mysen, Veidekke will have a good starting point for greater implementation capacity, competence and competitiveness in the region.

“We wanted to develop further and become a part of a larger contractor, and Veidekke was at the top of our list. We are bringing both our values and corporate culture into a group with great capacity, and I’m looking forward to becoming part of the Veidekke team along with our craftsmen and officials,” says general manager Jørn Haugerud of Haugerud Vikeby.

The letter of intent was made public on 4 January. Takeover will take place with effect from 11 May 2023.

For further information, please contact:
District manager Ketil Gunde Andersen, tel. +47 90 79 15 60, Ketil.Gunde.Andersen@veidekke.no
CFO Jørgen Wiese Porsmyr, tel +47 907 59 058, jorgen.wiese-porsmyr@veidekke.no
Communications Manager Helge Dieset, tel. +47 90 55 33 22, helge.dieset@veidekke.no
General Manager Jørn Haugerud with i Haugerud Vikeby, tel. +47 95 83 80 09, jorn@haugerud-vikeby.no

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Haugerud Vikeby AS is a building contractor in Mysen that carries out large and medium-sized projects such as commercial buildings and housing for public and private clients, primarily in central Østfold. Carpentry, masonry and concrete works are carried out with own employees, and local subcontractors are additionally used. The company currently has 36 employees, and revenues totalled just over NOK 200 million in 2022 with a profit margin in recent years of around 4%.

Veidekke is one of Scandinavia's largest contractors. In addition to undertaking all types of building and civil engineering assignments, the group also maintains roads and produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and local experience. Its annual turnover is approximately NOK 39 billion, and half of its 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has posted a profit every year since its inception in 1936.