ÖSTERSUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Skanska (STO:SKAB) and its joint venture partner were not able to come to an agreement with the client during negotiations for the revised scope of work. Accordingly, the client has elected to terminate the contract for its own convenience. As a result, Skanska USA Building will reduce the order bookings for a total of about USD 800 M, about SEK 6.7 billion, in the second quarter 2015.
Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2014 revenues were SEK 43.5 billion.
Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act. Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential premises, and public-private partnerships projects. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 58,000 employees in selected home markets in Europe and North America. Skanska's sales in 2014 totalled SEK 145 billion.
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