In 1948, the small and virtually unknown company, Veidekke, won the contract for construction of runways at Sola Airport outside Stavanger. This was the first of a number of major airport contracts for Veidekke.
Dam Construction
In the middle of the 1950's, Veidekke was engaged in airport construction in Ethiopia. This was a very important contract for the future development of the company. In the 1960’s the company’s main activity was road construction. From 1969 until the beginning of the 1980's, Veidekke was once again active in Africa, this time performing various contracts for NORAD (the Norwegian Agency for Development Cooperation). The beginning of the 1970's was also the beginning of a new period for Veidekke. The company needed to focus on new product areas. In 1972, Veidekke was awarded the contract for construction of the Heggmoen Dam in Northern Norway, and what followed for Veidekke, was a period of nation-wide dam construction.
Growth
At the beginning of the 1980's, a structural development of the building and construction industry started in Norway. This resulted in the amalgamation of many companies into a few major players. Veidekke, however, decided on a different course, choosing instead to develop itself into a nation-wide contracting company. Consequently, through take-overs, mergers and establishment of new companies, more than 60 companies have become part of Veidekke. Veidekke has grown from being the ninth largest construction company at the beginning of the 1980's to its present position as the largest Norwegian owned construction company.
Quoted on the Stock Exchange
In 1984, it was decided that Veidekke should go public. On 23 June 1986 Veidekke was quoted on the Oslo Stock Exchange's main list. Since the end of the 1960's Veidekke's employees have owned shares in the company, and Veidekke still encourages its employees to buy shares.
1990s
During the 1990s, Veidekke continued its growth through acquisitions of businesses, particularly in the areas of asphalt, crushed stone and gravel. Veidekke conducted its largest merger in 1991 when the company merged with Aker Construction. In 1998 the company expanded its business to include production of finished concrete. It was also made a conscious commitment to the environment and recycling, and the company has established a nationwide network of receiving and recycling of construction waste.
