Peab AB is a

construction Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and com ...

and

civil engineering Civil engineering is a professional engineering discipline that deals with the design, construction, and maintenance of the physical and naturally built environment, including public works such as roads, bridges, canals, dams, airports, sewage ...

company headquartered in Förslöv,

Scania Scania, also known by its native name of Skåne (, ), is the southernmost of the historical provinces of Sweden, provinces (''landskap'') of Sweden. Located in the south tip of the geographical region of Götaland, the province is roughly conte ...

, listed on

NASDAQ OMX Nasdaq, Inc. is an American multinational financial services corporation that owns and operates three stock exchanges in the United States: the namesake Nasdaq stock exchange, the Philadelphia Stock Exchange, and the Boston Stock Exchange, and ...

Stockholm. It is the third largest construction company in Sweden and the

Nordic region The Nordic countries (also known as the Nordics or ''Norden''; lit. 'the North') are a geographical and cultural region in Northern Europe and the North Atlantic. It includes the sovereign states of Denmark, Finland, Iceland, Norway and Swed ...

, with annual revenues exceeding SEK 50 billion. Peab has approximately 130 regional offices and 14,578 employees in Sweden, Norway and Finland.

History

The foundation of Peab was laid in 1959 by the brothers Erik and Mats Paulsson, then aged 16 and 14 respectively, to help farmers with refuse collection and disposal. However, the current name wasn't used until 1967, when the brothers created the

limited company In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by Share (finance), shares or by guarantee. In a company limited by ...

Bröderna Paulsson Peab AB, shifting focus towards construction at the same time. The company expanded in southern Sweden by acquisitions throughout the '70s and '80s. Peab finally reached national coverage in 1991, after a merger with the OTC-traded company Hallströms and Nisses AB; a company whose market was Stockholm and northern Sweden, supplementing Peab's market coverage. The first international expansion occurred in 1994, when Peab acquired Fagbygg A/S in Norway, which later merged with NOR Gruppen A/S, making it the fourth largest construction company in Norway. In 1999 the company entered the Finnish market, after acquiring Rakennus OY Leo Heinänen, which was complemented with Seicon and Vasa Betong in 2003. In 2011, Mats Paulsson stepped down as CEO, moving into the position of Vice Chairman of the Board. Erik Paulsson with family sold their shares in Peab to Mats Paulsson and his family in 2014.

Business areas

Peab is organized into four business areas, serving both external customers and internally, to other units in the company: * Construction — Performs contract work for new construction, renovation and maintenance * Civil Engineering — Offers civil engineering on infrastructure projects, as well as maintenance of roads * Industry — Delivers material and equipment * Project Development — Offers housing and commercial property development services Construction is the largest business area, accounting for almost half of the operative net sales and share of employees in 2013. Approximately 80% of the sales were located in Sweden.

Bribery scandals

PEAB has been involved in a number of bribery scandals during the construction of

Friends Arena Nationalarenan, currently known as Friends Arena for sponsorship reasons, is a retractable roof multi-purpose stadium in Stockholm, Sweden. Located next to the lake Råstasjön in Solna, just north of the City Centre, it is the biggest stadium in ...

. A high level manager was bribed with a sailing boat by a subcontractor. In addition, founder Erik Paulsson was charged with bribery of city director Sune Reinhold of Solna city.

Major projects

Tele2 Arena The Stockholmsarenan, known as the Tele2 Arena for sponsorship reasons, is a retractable roof multi-purpose stadium in Stockholm Globe City, Johanneshov, just south of Stockholm City Centre, Sweden. It is used mostly for concerts and football m ...

, Stockholm *

and the accompanying residential district Arenastaden, Solna *

Scandic Victoria Tower The Scandic Victoria Tower is a skyscraper hotel in the Kista district of Stockholm, Sweden. It is also known as the Victoria Tower, however the Scandic name is used to distinguish it from the Victoria Tower that forms the southwest end of the Pa ...

, Kista

References

External links