21.02.2011

Aarsleff takes over the shares in Østergaard, Vejle

Per Aarsleff A/S has taken over the companies behind the specialist contractor Østergaard. The takeover comprises the contracting company Østergaard, Vejle A/S, MH Udlejning, Vejle ApS (equipment rental company) as well as Oestergaard International A/S. The companies have approx. 80 employees and annual revenue of approx. DKK 130 million.

Østergaard’s former majority shareholder Morten Hansen continues as general manager in the company. The company will continue to act as sub-contractor to Danish and foreign main contractors. Østergaard’s activities are complementary to Aarsleff’s specialised geotechnical activities.

Østergaard carries out civil engineering work as well as drilling and tunneling, an area within which the company has more than 30 years’ experience.

In recent years, the level of activity abroad has been increasing. Currently, a major tunnel project in Oslo is being executed in connection with renewal of the city’s sewer system.

The company has developed a special technique for directional drilling with very small tolerances which is currently applied to a minor part of a tunnel project in Dusseldorf.

The acquisition does not affect Per Aarsleff A/S’s expectations to the annual results.