Veidekke ASA: Veidekke has acquired Reinertsen Entreprenør

Veidekke ASA: Veidekke has acquired Reinertsen Entreprenør

27.08.2015 - 10:14

Veidekke Entreprenør AS has signed a contract with Reinertsen AS to acquire their onshore building and construction operations. "Reinertsen Entreprenør strengthens our ability to perform and increases our competitiveness. Now we are looking forward to welcoming 215 new skilled colleagues in Oslo, Trondheim and Bodø," says EVP Dag Andresen of Veidekke Entreprenør.

Reinertsen Entreprenør carries out building projects in Oslo, Trondheim and Bodø and construction contracts all over the country. From 1 September the 215 employees, three ongoing projects and an order backlog on NOK 600 million will become a part of Veidekke's building and construction operations.

"Reinertsen Entreprenør has competent skilled workers and officials who will strengthen Veidekke. We are experiencing high levels of activity and have great need for Reinertsen's expertise in both building and construction. This makes this a very good match between Veidekke and Reinertsen," EVP Dag Andresen of Veidekke Entreprenør said when the acquisition process was announced in July.

The parent company, Reinertsen AS, wants to focus on its core activities in the time ahead. Their consulting engineering and architect activities are not affected by the sale, and nor are Reinertsen's oil and gas operations.

Transfer will take place with accounting effect from 1 September, and the purchase price is NOK 77 million. The acquisition will be carried out as a purchase of assets and liabilities.

The photo shows Division Director Kristian Reinertsen of Reinertsen AS (left) and EVP Dag Andresen of Veidekke Entreprenør. (Photo: John Inge Vikan/Byggeindustrien).

For more information, please contact:
EVP Dag Andresen of Veidekke Entreprenør, tel. +47 91 55 14 10, dag.andresen@veidekke.no
Division Director Kristian Reinertsen, tel. +47 93 09 05 45, kristian.reinertsen@reinertsen.no

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of construction and civil engineering contracts, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is almost NOK 24 billion (2014), and half of the 6,400 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.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.