Eysturlon sold to two Faroese businessmen

Construction company Eysturlon has been sold to businessmen Fróði Sigvardsen and Árni Rasmussen, the Faroese public broadcaster KVF reported on Tuesday.

The two buyers established the investment company SR Invest together, which has acquired Eysturlon. The agreement was reached on Sunday evening, and employees were informed on Monday.

“The plan is to continue operating Eysturlon as it is run today. We do not intend to make major changes,” Sigvardsen told in.fo. “Eysturlon is known for its quality, and both the employees and what the company stands for must be preserved.”

Jógvan Hans Østerø, the company’s founder and chief executive, will remain with Eysturlon for a period before stepping down.

About 40 people work for the construction company. The parties have declined to disclose the purchase price.