Veidekke's subsidiary Kolo Veidekke a.s has signed an agreement to purchase 25 per cent of the shares in a Swedish asphalt company, Sydbeläggningar AB, in Skåne.

The company Sydbeläggningar AB is situated in Höör, with a central location in relation to Veidekke's contracting operations in Skåne.

The agreement is based on Veidekke's wish to get into the asphalt market in Skåne to secure supplies of asphalt for its construction operations in the area. To the present owners the purchase represents an opportunity to strengthen and promote the continued expansion of the company.

Sydbeläggningar AB is a privately owned company, established in 2004, with an annual turnover of approximately 80 million SEK. Following this purchase, Kolo Veidekke a.s and the three present owners will each have an ownership share of 25 per cent.  

The parties have agreed not to publish the purchase price.

Any queries may be addressed to:

Vidar Aarvold, Managing Director of Kolo Veidekke a.s, phone +47 905 53 383

Jan Andersson, Department Manager, Veidekke Skåne AB, tlf. +46 42 29 55 24

Johan Hedström, Production Manager, Sydbeläggningar AB, tlf. + 46 730 33 67 22

VEIDEKKE ASA

Veidekke ASA is a leading Scandinavian building contractor and property developer with 6,350 employees and an annual turnover of NOK 16.4 billion (2006). Veidekke is listed on the Oslo Stock Exchange. It has a wide group of shareholders and 15 % of the shares are held by the company's employees. The company's activities cover a large range of building and construction contracts, development of housing and commercial projects for private and public customers, asphalt operations and road maintenance, and collection and recycling of waste.