Naboen names new chairman

Norwegian rental company Naboen (which means the neighbour) has appointed Geir Aarstad as its new chairman.

Mr Aarstad is the former CEO of Skanska Norway, and Naboen said he brought to the role a deep understanding of the construction industry.

Mr Aarstad said, “Construction companies will not own equipment in the future, they will hire. And here's Naboen in the leading seat."

Mr Aarstad began his career at construction company G. Aarstad in Egersund, which was later sold to Skanska. He then went on to lead Skanska Norway as CEO from 2003 to 2009, before moving to Saudi Arabia.

At present, he is a board member of several companies, including Stangeland Group, Backe Entreprenør, Ølen Betong, Otium, Insenti, Isachsen Group and Lønnheim Entreprenør. In addition, he runs his own consulting company, GRAA AS.

Established in the Stavanger region of Norway, Naboen now also operates in Haugesund, Bergen and Oslo, with plans for further growth. The group said it expected revenues of NOK170 million (€21 million) in 2014.