Veidekke

Infobox Company
company_name = Veidekke Group
company_
company_type = Public
foundation = 1936
location = Oslo, Norway
key_people = Terje R. Venold (CEO)
Göte Dahlin (Chairman)
area_served =
industry = Construction
Property development
products =
revenue = profit NOK 19,3 billion (2007)
operating_income = NOK 1,1 billion (2007)
net_income =
num_employees = 6,350 (2007)
parent =
subsid = Veidekke Sverige AB, Hoffmann A/S, Veidekke Entreprenør AS, Veidekke Eiendom AS, Kolo veidekke a.s, Veidekke Gjenvinning AS
homepage = [http://www.veidekke.no/english Corporate website]
footnotes =

Veidekke (ose|VEI) is the largest Norwegian construction company and the fourth largest in Scandinavia. Veidekke’s business involves a network of Scandinavian construction operations, rehabilitation work, major heavy construction contracts and development of dwellings for the company’s own account as well as buildings for public use. Other business segments are asphalt operations, production of crushed stone and gravel (aggregates), maintenance of public roads and recycling of industrial waste (in Norway only).

Operations

Veidekke’s core activities are linked with construction, property development and industrial operations (asphalt/aggregates, road maintenance and recycling of industrial waste). Veidekke has developed expertise in concrete, carpentry and road operations and has a clear ambition to be a leader in these market segments.

Construction

Veidekke is a major player in the Scandinavian construction market and undertakes all types of building and heavy construction projects. Veidekke’s contracts include construction of residential and non-residential buildings, schools and other public buildings and renovation of buildings in addition to heavy construction projects such as roads, railways and industrial development projects.

Construction operations in Norway are the responsibility of Veidekke Entreprenør AS. In Denmark, Veidekke’s construction operations are looked after by Hoffmann A/S, and in Sweden, construction operations are undertaken by Veidekke Sverige AB.

Property development

The property division, Veidekke Eiendom AS, undertakes the development of dwellings for Veidekke’s own account. Another business segment is the development of non-residential buildings and special-purpose buildings for the public sector. The division also carries out maintenance and management of non-residential buildings on behalf of Veidekke and other clients.

Industry

The industry division's operations are concentrated to the Norwegian market and cover the following business areas: Asphalt/aggregates, road maintenance and recycling. Asphalt/aggregate operations are managed by Kolo veidekke a.s. This segment includes production of asphalt and asphalting work, production of gravel and crushed stone, as well as maintenance of public roads.

Recycling is the responsibility of Veidekke Gjenvinning AS and its subsidiaries. This segment includes collection, transport and segregation of mixed waste and the development and manufacture of end products such as biofuels, recycled concrete, textile waste etc.

History

Veidekke's roots go back to 1863 in Denmark (H. Hoffmann & Sønner) and in 1896 in Norway (Høyer Ellefsen). As a company, Veidekke was founded 6 February 1936 by Nico S. Beer and Gustav Piene. In its founding years, Veidekke was a company constructing roads and laying cobblestone. When the Second World War broke out in 1940, the company fulfilled all signed contracts and shut down all operations until after the war.

In 1948, the small and virtually unknown company, Veidekke, won the contract for construction of runways at Stavanger Airport, Sola. This was the first of a number of major airport contracts for Veidekke.

In the middle of the 1950s, Veidekke was engaged in airport construction in Ethiopia. This was a very important contract for the future development of the company. In the 1960’s the company’s main activity was road construction. From 1969 until the beginning of the 1980s, Veidekke was once again active in Africa, this time performing various contracts for NORAD (the Norwegian Agency for Development Cooperation). The beginning of the 1970s was also the beginning of a new period for Veidekke. The company needed to focus on new product areas.

In 1972, Veidekke was awarded the contract for construction of the Heggmoen Dam in Northern Norway, and what followed for Veidekke, was a period of nation-wide dam construction.

At the beginning of the 1980s, a structural development of the building and construction industry started in Norway. This resulted in the amalgamation of many companies into a few major players. Veidekke, however, decided on a different course, choosing instead to develop itself into a nation-wide contracting company. Consequently, through take-overs, mergers and establishment of new companies, more than 60 companies have become part of Veidekke. Veidekke has grown from being the ninth largest construction company at the beginning of the 1980s to its present position as the largest Norwegian owned construction company.

On 23 June 1986 Veidekke was quoted on the Oslo Stock Exchange's main list. Since the end of the 1960s Veidekke's employees have owned shares in the company, and Veidekke still encourages its employees to buy shares through well renowned share programs.

ee also

*New National Opera House

References

*This article is derived in part from [http://www.veidekke.no/english/veidekkegroup/veidekke_s_history/article6638.ece this page] , the contents of which have been released under the GFDL by a representative of the Veidekke Group.

External links

* [http://www.veidekke.no/english Corporate website]
* [http://www.veidekke.no/english/news/ Last press releases]
* [http://www.veidekke.no/english/veidekkegroup/veidekke_s_history Veidekke's history]
* [http://www.veidekke.no/english/ir/ Investor information]