Veidekke

Regulatory Filings • Jun 20, 2024

Veidekke: Building commercial building for Kitron in Arendal

Veidekke: Building commercial building for Kitron in Arendal

Veidekke is to build a production building for Kitron at Longum Park in Arendal.

The agreement with AFK Eiendom, a wholly owned subsidiary of Arendals

Fossekompani, is a design and build contract with a contract price of NOK 110

million excl. VAT.

"We appreciate the confidence shown in us and that we have agreed on solutions

that allow us to start designing and building the production building for Kitron

on the attractive site located next to the E18 road at Longum in Arendal. All

involved parties have contributed with good input, and we are now looking

forward to extending the good partnership into the next phase," says district

manager Atle Monan at Veidekke Bygg Agder.

The new building that will be 7,500 m[2] in size will meet Kitron's requirements

to production facilities with associated administration and storage, and there

will be around 70 office jobs and 220 jobs overall. Production consists mainly

of the assembly and completion of electrical components, as well as the testing

of these. Kitron is a leading Norwegian electronics manufacturer, and is one of

the largest industrial companies in eastern Agder.

"For AFK Eiendom, this is an incredibly interesting partnership that can

contribute to attractive growth in our region. We are delighted to develop the

project for Kitron at an important location for production and industry," says

Tom Krusche Pedersen, property manager at AFK Eiendom.

Concrete work, carpentry, production and assembly of concrete elements in the

project will be carried out by Veidekke's own skilled workers and apprentices

and in collaboration with Veidekke Prefab. Construction work will start in the

autumn, with completion scheduled for the spring of 2026.

For further information, please contact:

District Manager Atle Monan of Veidekke Bygg Agder, tel. +47 951 42 740,

atle.monan@veidekke.no

Communications Manager Helge Dieset, Veidekke, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

Property manager Tom Krusche Pedersen of AFK Eiendom, tel. +47 480 43 511,

tom.krusche@arendalsfoss.no

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Veidekke (http://www.veidekke.no) 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. Annual

turnover is approx. NOK 43 billion, and almost 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.