Veidekke: To strengthen its asphalt operations in Northern Norway

27 Mar 2026 12:00 CET

Veidekke has signed an agreement to acquire the Troms-based asphalt contractor
Nord Vei og Asfalt. The acquisition strengthens Veidekke's asphalt operations in
a region expected to see robust activity in the years ahead.

Nord Vei og Asfalt was established in 2022. The company has 37 employees and
operates an asphalt plant in Storsteinnes in the municipality of Balsfjord. With
three asphalt crews and a department dedicated to deep stabilisation and cold
asphalt work, the company focuses on maintaining national, county and municipal
roads, as well as delivering projects for businesses in the region.

"The acquisition of Nord Vei og Asfalt strengthens Veidekke in a region which
offers exciting prospects in the years ahead. We look forward to including the
company in Veidekke's asphalt operations," says Martin Holmqvist, Director of
Veidekke's asphalt operations.

The company's revenue in 2025 amounted to NOK 236 million, with an operating
profit of NOK 38 million. In 2024 revenue amounted to NOK 98 million with an
operating profit of NOK 11 million.

Veidekke is acquiring 100 % of the shares through a cash settlement. The agreed
purchase price corresponds to a company value of approximately NOK 60 million on
a debt-free basis. Veidekke is financing the cash consideration with existing
liquid assets.

The transaction is expected to be completed during the second quarter of 2026.
Completion is subject to approval from the Norwegian Competition Authority.

For more information, contact:
Jørgen Wiese Porsmyr, EVP/CFO Veidekke ASA, +47?907 59 058
Martin Traeholt Holmqvist, Director, Veidekke Asfalt, +47 926 71 263
Helge Dieset, Press Contact Veidekke Norway, +47 905 53 322

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Veidekke is one of Scandinavia's largest contractors. In addition to undertaking
all types of building and civil engineering assignments, the group also
maintains roads and produces asphalt and aggregates. Veidekke emphasises
stakeholder involvement and local experience. Its annual turnover is
approximately NOK 43 billion, and half of its 8,000 employees own shares in the
company. Veidekke is listed on the Oslo Stock Exchange, and has posted a profit
every year since its inception in 1936.

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