Veidekke acquires ProsjekteringsPartner

Veidekke Entreprenør AS has entered into an agreement to acquire all shares in ProsjekteringsPartner AS in Oslo. ProsjekteringsPartner employs six engineers and civil engineers, all with sound backgrounds from contracting and with special expertise in project and construction management.

"We are very satisfied on completing this acquisition. ProsjekteringsPartner will remain a separate unit, but will provide us with added capacity and knowledge that we in turn may offer our clients, particularly during the development phase of projects," says Hans Olav Sørlie, District Manager of Veidekke Entreprenør Oslo.

"ProsjekteringsPartner has developed well since starting up in 2007. In order to develop the company further, we wanted to find a long-term owner with a similar corporate culture, work form and market understanding, and we have found this in Veidekke," says Richard Kruse, Managing Director of ProsjekteringsPartner.

"Veidekke has a turnover of more than NOK 1.5 billion in the building market in Oslo, and has ambitions for further growth in upcoming years. Negotiated turnkey contracts are the most important market area, and currently constitute 70-80% of all contracts. The acquisition of ProsjekteringsPartner is an important strategic move that will further strengthen us in our market," Sørlie concludes.

For more information please contact:

Hans Olav Sørlie, District Manager of Veidekke Entreprenør Oslo, tel. +47 917 44 923, hans-olav.sorlie@veidekke.no

Richard Kruse, Managing Director of ProsjekteringsPartner, tel. +47 957 77 435, richard@prosjekteringspartner.no

Helge Dieset, Communications Manager of Veidekke ASA, tel. +47 21 05 77 91 / +47 90 55 33 22, 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 employeeinvolvement. Over half the employees are co-owners, holding 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.