09.11.2015 - 12:00

Veidekke Entreprenør AS has entered into a final agreement acquire 80% of the shares in the civil engineering contractor Leif Grimsrud AS in Halden and its subsidiaries Leif Grimsrud Entreprenad AB and Øst AS. 'The acquisition strengthens our local and regional activities in central areas of eastern Norway, and now we are looking forward to being joined by numerous new skilled colleagues,' says EVP and Managing Director Dag Andresen of Veidekke Entreprenør.

Grimsrud has 230 employees in Østfold and 30 in Strømstad, and revenues totalled NOK 920 million in 2014. Grimsrud carries out local building projects in Halden and construction contracts in Østfold, Akershus and Bohuslän.

'Grimsrud is a solid, well-run contractor that has delivered good long-term results. They have a high level of expertise in engineering design, planning and management with their own employees and machinery. In addition, they have a similar corporate culture and values that will fit in very well with Veidekke. We look forward to welcoming their capable skilled workers and staff to our team', says Managing Director Dag Andresen of Veidekke Entreprenør, when the acquisition process was disclosed on 5 October.

Transfer will take place with effect from 13 November. The purchase price is NOK 300 million.

Caption: Veidekke Entreprenør's Magnar Huse (left) and Dag Andresen bring Leif Grimsrud AS to the team, represented here by Asle M. Berg and Martin Grimsrud.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
 EVP Dag Andresen of Veidekke Entreprenør, tel. +47 91 55 14 10, dag.andresen@veidekke.no
General manager Asle M Berg with Grimsrud, tel. +47 90 19 78 40, asle.berg@leifgrimsrud.no
Communications Manager Helge Dieset of Veidekke ASA, tel. +47 90 55 33 22, helge.dieset@veidekke.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 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.

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