Vienna, 2 April 2008. STRABAG SE, the largest construction group in Central and Eastern Europe, has acquired an 85 % stake in Swedish firm “ODEN Anläggningsentreprenad AB”. The Stockholm-based company generated revenues of about € 121 million and employed 400 people in 2007.
ODEN, considered a specialist for infrastructure projects in Sweden, generates about 60 % of its revenue in transportation infrastructures and 30 % in the field of tunnelling. The previous owners – a group of investors and the company management – see great potential in infrastructure in Scandinavia and were looking to accelerate the expansion with the help of a financially strong strategic partner from within the construction industry.
STRABAG is to help ODEN extend its business activities to cover the entire Scandinavian region, set up its own raw materials basis and build asphalt mixing facilities. For STRABAG, the acquisition of ODEN represents the Group’s entry onto the Scandinavian market. STRABAG will support ODEN with capital and know-how in order to develop the company into one of the leading specialists in Sweden’s transportation infrastructures segment.
Dr. Hans Peter Haselsteiner, Chairman of the Management Board of STRABAG SE, comments: “During the last years, ODEN has won – based on their expertise in tunnelling, bridges and large bulk excavations – several strategic infrastructure projects in Sweden. Therefore, when STRABAG decided to enter the Scandinavian infrastructure market ODEN was the evident company to acquire. The fact that the previous owners and management will remain invested in the company also states their continued commitment and joint ambition to further grow the business and achieve an even stronger market position.”
STRABAG SE is one of Europe’s leading construction groups. With nearly 60,000 employees, STRABAG expects to post revenue from construction work of around EUR 11 billion in the financial year 2007. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and the Arabian Peninsula, as well as in Canada, Chile and India. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com.