Veidekke to build for Vasakronan in Gothenburg

Vasakronan has engaged Veidekke Entreprenad to carry out the modernization of the Perukmakaren quarter in the centre of Gothenburg. The contract has a value of approx. SEK 130 million excluding VAT.

New retail premises will be built, existing shops will be refurbished, a new hotel will be erected and a parking facility with 500 spaces will be modernised in one of Gothenburg's best shopping districts. The project will start in February 2012 and, according to plan, will be finished at the end of 2014.

 "We want to contribute to develop retail and service in Gothenburg. This means that modernization of the Perukmakaren quarter is to be carried out by an experienced and committed contractor, which in turn will ensure that the immediate surroundings are affected as little as possible. We believe that Veidekke will cope very well," says Magnus Tengberg, business area manager for Vasakronan in Gothenburg.

External changes will be significant, as façades will be modernized with a new expression. Vasakronan's high expectations toward climate and the environment will be maintained through classification of the project in accordance with LEED. The goal is to halve energy consumption in the new, refurbished property.

For more information please contact:

Magnus Tengberg, Business Area Manager, Vasakronan, Telephone: +46 31-7434211

 magnus.tengberg@vasakronan.se

Stephan Woodbridge, regional manager of Veidekke Entreprenad, Telephone: +46 31-505650

 stephan.woodbridge@veidekke.se

Max Ney, Communications manager with Veidekke Sweden, Telephone: +46 70-4402021      

 max.ney@veidekke.se

Veidekke is one of Scandinavia's largest contractors with 6,100 employees and a turnover of NOK 16.3 billion (2010). 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 almost 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.