Peab strengthens its local presence in the Nordic region

As of today, April 1, 2020, Peab will have 1,700 new employees. Through the deal with Finnish YIT and the takeover of its paving and mineral aggregates business Peab will expand its operations, particularly in Finland and Norway. In addition, Denmark will become a new country for the Peab Group through the paving business.

By acquiring YIT’s Nordic paving and mineral aggregates operations Peab consolidates its position as the Nordic Community Builder. In addition to greater local presence through more locations all over the Nordic region and 1,700 new employees, production capacity will increase with 63 asphalt plants and around 200 quarries.

Proximity to customers, together with our four collaborating business areas, promotes personal relationships, shorter lead times and less transportation.

YIT’s operations will be primarily integrated into the Peab companies Peab Asfalt and Swerock. This means that Peab Asfalt will now become established in Finland and Denmark.

“Through local presence in so many places in four Nordic countries we will with our size, strength and skills be a leading paving actor. The acquisition provides fantastic opportunities for synergy effects and development in manufacturing, paving and recycling asphalt. For example, we want to work with ECO-Asfalt® in every country,” says Håkan Jacobsson, Managing Director Peab Asfalt.

“Together we provide Peab with a platform for local production in cooperation with customers and partners all over the Nordic region. Through skilled employees and strategically located quarries we can develop Peab and Swerock with a continued sharp focus on sustainability. A great deal of energy will be put into further developing our segments Mineral Aggregates, Concrete, Transportation and Machines as well as Recycling focused on becoming the Nordic leader. Now we look forward to welcoming all our new employees,” says Håkan Wifvesson, Managing Director Swerock.

Kerstin Danasten

Head of Media Relations, Peab