Veidekke acquires a stake in gravel business in North and South Trøndelag
Veidekke's subsidiary Kolo Veidekke A.S. has agreed to buy 50% of the shares in Lauvåsen Pukk A.S.
"Kolo Veidekke A.S. runs two asphalt plants within Lauvåsen Pukk's operational area, but we do not produce our own gravel and construction aggregate for these plants. Therefore an ownership interest in Lauvåsen is a good fit for us," says Vidar Aarvold, Managing Director of Kolo Veidekke A.S.
Lauvåsen Pukk A.S. runs the Lauvåsen stone quarry in Stjørdal, and also extracts the gravel for further processing in various gravel depots in South Trøndelag. In addition, the business operates a total of five mobile crushing plants. Annual sales are NOK 30 million and there are 12 employees. Lauvåsen Pukk AS is presently wholly owned by Bjerkli Holding A.S.
"We are pleased to have Veidekke sharing an ownership interest with us in Lauvåsen Pukk A.S., and see this as a positive contribution to the further development of the company," says Per Olav Bjerkli, Chairman of Bjerkli Holding A.S.
What remains now is for the normal due diligence work to be completed and the competition authorities to deal with the acquisition before the final transfer can come into effect.
The parties have agreed not to disclose the acquisition price for the shares.
For more information please contact:
Vidar Aarvold, Managing Director of Kolo Veidekke A.S.,
tel.: +47 21057641/90553383, vidar.aarvold@veidekke.no
Svein Arne Grudt, General Manager in Lauvåsen Pukk A.S.,
tel.: +47 95191943
Per Olav Bjerkli, Chairman of Bjerkli Holding A.S.
tel. +47 97676075
Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,750 employees and turnover of BNOK 16.4 (2006). The group is listed on the Oslo Stock Exchange and has a dispersed ownership structure with the employees owning 16% of the stock. The business spans a wide spectrum of building and construction projects, developing housing and commercial buildings for private and public sector clients, asphalt plants and road maintenance as well as collecting and recycling waste.