Faktor Eiendom Explained

Faktor Eiendom ASA
Type:Public (
Foundation:2001
Defunct:2011
Location:Rakkestad, Norway
Key People:Per Gunnar Rymer (CEO)
Jon Sandberg (Chairman)
Area Served:Scandinavia
Industry:Construction
Revenue: NOK 657 million (2010)
Operating Income: NOK (434 million) (2010)
Net Income: NOK (523 million) (2010)
Num Employees:674 (2010)
Homepage:www.faktoreiendom.no

Faktor Eiendom is a Norwegian construction company that is engaged in building residential and recreational houses, factory production of low-cost housing (e.g. student flats) and managing hotel and resorts.Faktor Eiendom experienced serious liquidity problems in 2010 which resulted in DnB NOR converting NOK 250 million of debt into equity and taking 30.7% ownership of the company.After taking office in Q4 2010, CEO Per Gunnar Rymer has turned the strategy of the company towards real-estate development and factory production of houses and flats.

Faktor Eiendom was taken under bankruptcy proceedings by a court order of 27 September 2011.