Veidekke purchases shares Swedish asphalt company
Oslo, Norway – Through its subsidiary Kolo Veidekke a.s, Veidekke ASA is purchasing 25 per cent of the shares in a Swedish asphalt company, Sandahls Grus & Asfalt AB. The seller is Asfalt Consult AB.
Following this purchase, the asphalt company’s shareholders are Sandahlsbolagen i Skillingaryd AB (50%), Asfalt Consult AB (25%) and Kolo Veidekke a.s (25%).
Sandahls Grus & Asfalt AB operates in the Swedish asphalt market. Its turnover for 2006 was approximately SEK 300 million.
The sale of shares will strengthen and promote the continued expansion of Sandahls Grus & Asfalt AB, while Veidekke will secure supplies of asphalt for its heavy construction operations in Sweden.
The parties have agreed not to publish the purchase price.
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
14 % 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.