AF acquires contractor Johan Rognerud AS

AF Group (AFG) has signed an agreement regarding purchase of 100 percent of the shares in Johan Rognerud AS. The acquisition will strengthen AF'sbusiness area Civil Engineering.

Johan Rognerud AS is a nation wide contractor with core competence within mass hauling. The company was established in 1975 and has 70 employees. Operating revenues for 2009 totalled NOK 228 million. Johan Rognerud AS will be organized as a wholly owned subsidiary of the AF Group.

- This is a part of our aim at taking a larger stake of the market for large infrastructure projects. By getting the acknowledged constructor Johan Rognerud AS into the AF Group, we will strengthen our competitive position in the civil engineering market, says Pål Egil Rønn, CEO of the AF Group.

For further information:

CEO: Pål Egil Rønn, tel. +47 90 95 77 13

EVP, Civil Engineering: Arild Moe, tel. +47 91 37 62 65