FOERSLOEV, Sweden, Oct. 15, 2002 (PRIMEZONE) -- Peab is acquiring all shares in PNB Asfalt, a subsidiary to PNB Entreprenad AB. PNB Asfalt's turnover is approx. SEK 225 million and the company has 100 employees.
PNB Asfalt operates mainly in the south of Sweden, and has several running maintenance contracts, modern machinery and two asphalt works. The business will continue to be run by the present management.
"PNB Asfalt is a very good complement to our operations geographically speaking. The acquisition also means that we strengthen our position both in production and asphalt laying," commented Peab's executive vice president, Mats O. Paulsson.
After the acquisition the sales volume for Peab's asphalt operations will be SEK 1.2 billion, and the deal means that Peab's balance sheet total will increase by SEK 100 million.
The acquisition is subject to the approval of the Swedish Competition Authority and transfer of possession will be made when granted.
For more information please contact:
Mats O Paulsson, Executive vice President Peab +46 733 37 10 06 Gosta Sjostrom, Information Manager Peab +46 733 37 10 10
Previous press releases from Peab are available at www.peab.com
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