Skanska AB

Type	Publicly traded Aktiebolag
Traded as	OMX: SKA B
Industry	Construction
Founded	1887
Headquarters	Solna, Stockholm, Sweden
Key people	Johan Karlström (President and CEO), Sverker Martin-Löf (Chairman)
Products	Residential, commercial and infrastructure developments
Revenue	SEK 121.66 billion (2010)[1]
Operating income	SEK 5.339 billion (2010)[1]
Profit	SEK 3.940 billion (2010)[1]
Total assets	SEK 77.71 billion (end 2010)[1]
Total equity	SEK 20.79 billion (end 2010)[1]
Employees	51,645 (average, 2010)[1]
Website	www.skanska.com

Skanska AB, is a multinational construction and development company based in Sweden, where it also is the largest construction company. The company's head office is in Solna, north of Stockholm.^[2]

History[link]

Aktiebolaget Skånska Cementgjuteriet was established in Malmö, Sweden, in 1887 and started by manufacturing concrete products.^[3] It quickly diversified into a construction company and within 10 years the company received its first international order.^[3] The company played an important role in building up Sweden’s infrastructure including roads, power plants, offices and housing.^[3]

Growth in Sweden was followed by international expansion. In the mid 1950s Skånska Cementgjuteriet made a major move into international markets. During the next decades it entered South America, Africa and Asia, and in 1971 the United States market, where it today ranks among the largest in its sector.^[3] The company was listed on the Stockholm Stock Exchange A-list in 1965. In 1984 the name “Skanska”, already in general use internationally, became the Group’s official name.^[3]

During the latter part of the 1990s, Skanska expanded substantially both organically and by acquisition.^[3]

In mid 2004, Skanska decided to divest its Asian investments and sold its Indian subsidiary to the Thailand based construction firm Italian Thai Development Company.^[4]

In 2005, Skanska was the subject of an official investigation by Argentinian tax enforcement office (AFIP) in which employees working on a gas pipelines project in Buenos Aires admitted to having paid bribes to government officials.^[5]

Current activities[link]

Skanska operates in four business streams; construction, residential development, commercial development and infrastructure development. Primary markets are the Nordic region, the U.S., United Kingdom, Central Europe and Latin America. The Group’s operations are based on local business units. Generally, the firm has several thousand continuing projects.

Skanska was the No. 1 "Green Builder" in the United States in 2007^[6] and was ranked No. 3 "Green Contractor" in the United States 2008.^[7]

Skanska was ranked the 10th largest contractor in the world in 2008^[8] and was the 6th largest contractor in the United States.^[9]

Major projects[link]

Work in progress on 30 St Mary Axe, one of Skanska's most high-profile contracts. Built between 2001 and 2004, the tower was a major addition to London's skyline.

Major projects in the United Kingdom have included 30 St Mary Axe in London completed in 2004.^[10] In Malta Skanska built the Mater Dei Hospital which opened in 2007.^[11]

In 2010, Skanska finished constructing the 230m Heron Tower, the tallest building in the City of London.^[12]

Major projects in the United States include the New Meadowlands Stadium (MetLife Stadium, home to the Giants and the Jets NFL franchises), completed in 2010.^[13] Skanska is also the construction manager for Madison Square Garden's renovation project, due to be completed in 2012.^[14] Skanska has also won the Alaskan Way Viaduct project in Washington: the project worth SEK840 million ($115 million) involves the construction of a new 1.3 kilometer viaduct on the southern section of the Alaskan Way on the State Route 99 bypass in downtown Seattle and will be completed in 2013. ^[15]

Another continuing major project is the renovation and addition to the United Nations building, due to be completed in 2014.^[16]

Other continuing major projects include the restoration of the World Trade Center ground zero site including the removal of debris, the reconstruction of the PATH and New York City Subway and the creation of a World Trade Center Transportation Hub, due to be completed in 2014.^[17] Skanska is also a member of consortium responsible for the Second Avenue Subway tunneling project, due to be completed in 2016.^[18]

See also[link]

	Sweden portal
	Companies portal

• Road to the Greenland Ice Sheet

References[link]

1. ^ ^{a b c d e f} "Annual Results 2010". Skanska. http://thehub.skanska.com/Upload/10123/1/Skanska%20Q4%202010%20EN.pdf. Retrieved 12 February 2011. 
2. ^ "Directions Skanska head office." Skanska. Retrieved on 15 October 2011. "Contact information Skanska head office Hagaporten Råsundavägen 2 169 83 Solna Sweden"
3. ^ ^{a b c d e f} Skanska: History
4. ^ ITD Cementation India
5. ^ Skanska likely to be involved in a corruption scandal in Argentina Pravda, 20 March 2007
6. ^ Skanska: Green Builder
7. ^ Top Green Contractors ENR
8. ^ Top Global Contractors ENR
9. ^ Top US Contractors ENR
10. ^ The erotic gherkin is in a pickle The Telegraph, 23 November 2002
11. ^ Times of Malta 30th July 2009
12. ^ Skanska win Heron Tower contract Skyscrapernews, 31 October 2007
13. ^ Meadowlands Stadium
14. ^ Jones Lang LaSalle project manager for $500m Madison Square Garden renovation New York Real Estate Journal
15. ^ "Skanska wins Alaskan Way Viaduct project in Washington". http://public.worldconstructionindustrynetwork.com/news/skanska_wins_alaskan_way_viaduct_assignment_in_washington_100518/. 
16. ^ UN signs contract with Skanska Reuters, 27 July 2007
17. ^ Phoenix Constructors
18. ^ New York Construction: Top Projects

External links[link]

• Official website

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