Veidekke will become the largest shareholder of ESAM Møre with this agreement. Credit: Veidekke/Cision.

Veidekke, a Norwegian construction company, has entered into an agreement to acquire a 46% stake in ESAM Møre, making it the largest shareholder in the cooperative company.

The remaining 54% of the shares will continue to be held by the original owners, namely ACO Anlegg, Blindheim Maskin & Transport, and Svinø Entreprenør.

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In early 2023, ESAM Møre signed a contract with Alvika Næringspark to operate a mass recycling facility, Alvika Miljøpark, which is currently under construction.

This facility in Alvika/Bingsa will process and sell surplus materials from construction activities in the Ålesund region.

The acquisition provides ESAM Møre with access to Veidekke’s expertise in mass production and recycling.

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Veidekke says it is dedicated to sustainability and aligns with the UN’s Sustainable Development Goals. The company is focused on preventing the wastage of resources and using sustainable materials in its building projects, with its aim to halve emissions year on year by 2030.

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ACO Anlegg, Blindheim Maskin & Transport, and Svinø Entreprenør also implement sustainable practices in their respective projects by utilising eco-friendly equipment and technology, minimising idling, and promoting resource reuse in their operations.

This partnership is expected to offer significant environmental benefits by reducing transport distances and optimising the value chain through the provision of surplus material delivery and the sale of crushed stone and gravel in the central Ålesund area.

Veidekke Geomaterialer director Kari Berntsen said: “We are looking forward to developing Alvika Miljøpark together with Aco Anlegg AS, Svinø Entreprenør AS and Blindheim Maskin and Transport AS. This will be the county’s largest material reception facility and plant for reusing surplus material.

“Since 1972, we have operated Ålesund Massesenter where we sell crushed stone and gravel to local asphalt producers and contractors for around Nkr50m ($4.75m) a year. Alvika Miljøpark will be an important addition to take further steps towards the recycling of excavated material, reuse and a circular economy.”

The construction market in the region is experiencing positive activity, with expectations of continued growth in the coming years, Veidekke noted.