Veidekke ASA : Veidekke ASA: Veidekke acquires Skedsmo Pukkverk AS
Veidekke Industri is buying all shares in the company Skedsmo Pukkverk AS.
"The acquisition will strengthen our aggregate operations in central eastern
Norway and ensure us a good long-term position in a market area where we
expect high activity in the coming years. We also see good opportunities for
interaction with Veidekke's other operations in the region," said Executive
Vice President Jørgen Wiese Porsmyr of Veidekke.
Skedsmo Pukkverk has an annual turnover of NOK 35 million and 9 employees. The
company produces and sells aggregates to the construction industry in
Romerike, north of Oslo. The company itself owns the property where the
aggregate plant operates and has long-term residual extraction opportunities
for aggregate. The company was established in 1960 and has up to now been
owned by the Utsigt family.
Veidekke's quarry operations are a part of Veidekke Industri and have 30
production sites in Norway, with emphasis on eastern Norway. Operations
comprise the production and sale of aggregate and gravel, supplemented by the
receipt of construction masses. They are based on long-term extraction
agreements, but at some works Veidekke itself is the landowner. It is sought
to further develop these into residential or commercial properties when
production is exhausted. Overall, in 2012 the quarry operations had a turnover
of NOK 391 million, profit before tax of NOK 33 million and a profit margin of
The acquisition agreement is subject to approval by the Competition Authority,
and will be completed as as soon as this is provided.
For more information please contact:
Executive Vice President Jørgen Wiese Porsmyr, tel. +47 907 59 058
Managing Director of Veidekke Industri, Øyvind Moen, tel. +47 932 01 419
Veidekke is one of Scandinavia's leading contractors and property developers
with a turnover of 20 billion (2012) and 6,300 employees. Activities include
building and construction projects, residential developments, asphalt plants,
gravel and aggregates, and road maintenance. Our values are professional,
honest, enthusiastic and pioneering. Our goals for health, safety and the
environment, HSE, have equal status with our financial goals. Veidekke is
characterised by a strong corporate culture with employee involvement and
co-ownership as important cornerstones. More than half of the employees are
co-owners, holding around 20% of the Group's shares between them. The company
is listed on the Oslo Stock Exchange and has always posted a profit since it
was founded in 1936.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson
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applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Veidekke ASA via Thomson Reuters ONE
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