For further information:
Jonas Wiström, President and CEO, +46 70 608 12 20
Mats Påhlsson, President Infrastructure Division, +46 70 534 64 00
ÅF and the Norwegian engineering consultancy company Reinertsen are merging their Norwegian businesses within Infrastructure, Buildings and Installations in one jointly owned company. The merged operations will be the foundation for growth in the Norwegian infrastructure market. ÅF also acquires Reinertsen's Swedish Infrastructure business.
The businesses forming the jointly owned company - ÅF Reinertsen AS - will have a turnover of approximately 450 NOK in 2015. ÅF will own 51% and Reinertsen 49%. Kristian Reinertsen will hold the position as CEO. The approximately 350 employees are located in Trondheim, Oslo, Bergen, Lilleström and Sandefjord. The number of ÅF employees in Norway will after the transaction amount to approximately 650.
The Swedish Reinertsen operations within Infrastructure, Buildings and Installations, to be acquired by ÅF to 100%, generate revenues of approximately 160 MSEK in 2015. The 185 employees are located in Gothenburg, Stockholm, Malmö and Luleå. The operations will be part of Infrastructure Division, headed by Mats Påhlsson.
"I am pleased that ÅF through the partnership with such an established and respected partner as Reinertsen gets the opportunity to develop a joint offering to the attractive infrastructure market in Norway," says Jonas Wiström, President and CEO of ÅF.
"Together with ÅF we will be a stronger and more complete partner to our customers", says Erik Reinertsen, Director of the Board of Reinertsen. "In addition to the resources in our new joint venture company, we will be able to offer the Norwegian customers the competence and experience of more than 2000 infrastructure engineers from ÅF in Sweden."
"The Swedish operations of Reinertsen are appreciated reinforcements to our division", says Mats Påhlsson, head of Infrastructure Division. "There are many interesting projects on the market for which we, through these added capabilities, will be able to offer even better solutions to our customers."
The transaction in Norway will be subject to notification to the Competition Authority. ÅF Advansia AS and Reinertsen's other businesses are not part of the transaction.
ÅF AB (publ)
ÅF is an engineering and consulting company for the energy, industrial and infrastructure markets, creating progress for our clients since 1895. By connecting technologies we provide profitable, innovative and sustainable solutions to shape the future and improve people's lives. Building on our strong base in Europe, our business and clients are found all over the world.
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