22 Apr

The AF Group ASA (OSE: AFG) (Norwegian: AF Gruppen) is the third largest civil engineering and construction company in Norway. The company headquarters is located in Oslo. The AF Group is listed on the Oslo Stock Exchange.

AF Gruppen is a leading contracting and industrial group. The purpose of the business is to create value for customers, owners, employees, and society at large. The Company is proud of it's good financial results, but every bit as important are the non-financial values that they strive to create every day. A safe working environment for all employees and sub-contractor personnel, new services that help solve society’s environmental challenges and ethical business operations that create security for customers, which, in turn, provides the opportunity to create additional value for shareholders.

Company History - Curious since 1985

Curiosity, entrepreneurial spirit and execution capability have made AF Norway's third largest contractor, and the best performing company on the Oslo Stock Exchange.

1. Civil Engineering
AF Gruppen was established in 1985 to focus on major construction projects throughout Norway. The driving force was the urge to exercise an entrepreneurial spirit and create profitable growth. A difficult market and a desire to develop further led AF to enter the oil and gas market and the construction of the landfall tunnel from the Troll field in 1991. The assignment tripled turnover and strengthened the company’s expertise in project management, safety and quality.

2. Building
After a decade of large and complex construction projects, AF saw the opportunity in 1997 to utilise its project expertise in a growing construction and property market. The willingness to grow had always been there and the merger with one of Oslo’s largest contracting companies, Ragnar Evensen, doubled turnover and helped to further professionalise the company.

3. Property

With its entry into the construction market and major growth ambitions, in 1997 AF wanted to strengthen its project development activities. Acquisition of the property company Odin laid the foundation for the business area Property, which aims to develop attractive projects in conjunction with partners in areas in which AF is engaged in contracting operations.

4. Environment
Based on its experience from construction activities, AF developed expertise within demolition and recycling. In 2000, AF took on one of the most challenging removal projects in Norway: the Sola refinery at Jæren. Acquisition and investment in major assignments over the course of one year transformed AF into Norway’s largest demolition contractor. Today, AF is among the largest companies in the world in the field of demolition and recycling.

5. Offshore

AF Gruppen's first project for the oil sector started in 1991. In connection with the development of the Troll field, AF worked on the plant for the landing of gas at Kollsnes. With the expertise it gained from the Sola project, AF took its demolition activities offshore in 2005.
Nine new contracts in the North Sea provided the opportunity to develop the Environmental Base at Vats, which is currently one of Europe's most modern reception facilities for decommissioned offshore installations. This offshore focus was expanded with maintenance and modification (M&M), as well as marine and rig services. AF Gruppen established a separate business area for offshore activities in 2013.

6. Energy

In 2006, AF saw the opportunity to use its construction skills to position itself in the market for energy reduction and production. Through acquisition and a strong desire to grow, the business has now become one of the largest centres of expertise in the Nordic region within the field of energy efficiency and production of renewable energy.

Sustainable entrepreneurship

A well-functioning society is dependent on responsible business and industry that create value for society. Corporate social responsibility is not only of major importance from a societal perspective, but also because it provides opportunities for profitable growth. At AF, this is referrered to as sustainable entrepreneurship.

In line with the UN's sustainability goals, the Company is committed to:

  • Decent work and economic growth
  • Equality between the genders
  • Responsible consumption and production and stopping climate change
  • Peace and justice

For more infomation, please visit https://afgruppen.com/

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