Veidekke Industry has won six new operation and maintenance contracts this year for Norwegian classified and county roads. "We have now been awarded two new contracts by the Public Roads Administration for the areas of Sør-Varanger and Lyngen. With these we have secured new contracts worth NOK 976 million excluding VAT," says Managing Director Øyvind Moen of Veidekke Industry.
"Total orders on hand for our contracts now amount to NOK 2.4 billion. Most of the contracts are for 5 years, and our annual turnover from them will be around NOK 800 million," says Moen.
Changing industry
Major changes have taken place since the operation and maintenance of classified and county roads in Norway were put out to tender around 10 years ago. Veidekke is one of the private players that have been there since the start and today is the country's second largest player with a market share of around 17%. The company has 18 contracts, which means it is responsible for the maintenance of approximately 8,800 km of roads in Norway, from Finnmark in the north to Vest-Agder in the south.
Many important tasks
"Our job is to ensure usability, traffic safety, and maintain the road itself. This involves everything from snow ploughing and gritting, washing signs, emptying rubbish bins, and trimming verges to clearing up after floods, avalanches, landslides, rock falls and accidents. The Public Roads Administration determines the framework we have to work within and the road standards we have to satisfy, which depend on factors such as road type and traffic volume," concludes Moen.
For more information please contact:
Managing Director Øyvind Moen of Veidekke Industry, tel. (+47) 932 01 419, oyvind.moen@veidekke.no
Communications Manager Helge Dieset of Veidekke ASA, tel. (+47) 905 53 322, helge.dieset@veidekke.no
Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a turnover of NOK 18 billion (2011). 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 characterized by a decentralized organizational model with a strong corporate culture and a high degree of employee involvement. Over half the employees are co-owners, holding slightly more than 20% of Veidekke's shares between them. The company is listed on the Oslo Stock Exchange and has never declared a loss 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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