Veidekke ASA: Veidekke Bostad becomes co-owner of Folkhem Trä

Thu, Jun 15, 2017 14:34 CET

Oslo/Stockholm 15 June 2017

Veidekke Bostad will become a co-owner of Folkhem Trä when Rikshem sells half of the company, which is currently wholly-owned. This enables Rikshem and Veidekke to strengthen the good partnership the companies have enjoyed with regard to housing cooperatives.

Veidekke and Rikshem view the shared ownership as the next natural step in Folkhem Trä's development. There is large and growing interest in wood buildings, and the owners are now preparing for higher volumes at Folkhem Trä by ensuring production resources and construction expertise in this manner. Around twenty associates will be offered jobs in Veidekke as a result of the agreement.

"The possibility to build multi-dwelling houses in wood is something we have been wanting for some time. We view wood as an important and complementary segment that has strong links to our long term sustainability strategy," says Per-Martin Eriksson, CEO of Veidekke Bostad.

Veidekke Bostad and Rikshem have enjoyed a good partnership for a long time in developing housing cooperatives, which are mainly produced by Veidekke Entreprenad. Now the partnership is strengthened further with greater focus on wood houses for the Swedish market as well.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:

Jørgen Michelet, CFO, Veidekke A/S, +47 21 05 77 22
Per-Martin Eriksson, CEO, Veidekke Bostad, +46 70 598 56 51
Kjell Cederstrand, CFO, Veidekke Bostad, +46 73 373 81 31

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company's operations are characterised by involvement and local knowledge. Revenue is NOK 30 billion, and half of the 7,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.