Veidekke Purchases Shares in Swedish Asphalt Company in Skåne

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.

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.