05.10.2011 - Company announcement

Aarsleff company signs five-year agreement with TDC

Aarsleff’s subsidiary Petri & Haugsted as has signed a contract with TDC for the execution of customer-ordered fibre connections and error correction of the fibre network in Denmark.

The contract will be carried out in collaboration with Eltel Networks A/S and Munck Forsyningsledninger a/s. The three business partners have formed the consortium Fiber & Anlæg I/S of which Petri & Haugsted's share is 37.5%.

The contract will run for the next five years with an option to extend it for another two years. It has been agreed that approx. 150 technicians, previously employed with TDC, will continue their employment with Eltel Networks A/S. TDC does not want to publish the contract value.

The earnings impact of the contract will be included in the total earnings expectations which will be informed as usual in the preliminary announcement of financial statements for 2010/2011.