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Skanska
From Wikipedia, the free encyclopedia
| Skanska AB | |
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| Type | Public (OMX: SEK) |
|---|---|
| Founded | Sweden (1877) |
| Headquarters | Solna,Sweden |
| Key people | Stuart E. Graham, President and CEO Sverker Martin-Löf, Chairman |
| Industry | Construction, Residential Development, Commercial Development, Infrastructure Development |
| Revenue |  SEK 125 billion (2005) |
| Employees | 54,000 (2005) |
| Website | www.skanska.com |
Skanska, is a multinational construction and development company based in Sweden. Aktiebolaget Skånska Cementgjuteriet was established in 1887 and started by manufacturing concrete products. It quickly diversified into a construction company and within 10 years the company received its first international order. The company played an important role in building up Sweden’s infrastructure including roads, power plants, offices and housing.
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 US market, where it today ranks among the largest in its sector. 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. During the latter part of the 1990s, Skanska initiated its most expansive phase ever. Sales doubled in only a few years. While the major portion of this growth was organic, a string of successful acquisitions also paved the way for Skanska’s growth into a global company.
Skanska is a local player in many countries. Primary markets are the Nordic region, the US, UK, Central Europe and Latin America. The Group’s operations are based on local business units, which have good knowledge of their respective markets, customers and suppliers. These local units are backed by Skanska’s common values, procedures, financial strength and Groupwide experience. Skanska is thereby both a local construction company with global strength and an international builder with strong local roots.
Skanska’s mission is to develop, build and maintain the physical environment for living, traveling and working. Skanska aims to be a leader in its home markets. Today Skanska operates in four business streams; construction, residential development, commercial development and infrastructure development. The company’s overall goal is to generate customer and shareholder value. Projects are the core of Group operations and value is generated in well-implemented and profitable projects. Generally, there are several thousand ongoing projects.
Revenue in 2005 amounted to SEK 125 billion. Skanska Group operating income totaled SEK 5.0 billion, and after-tax profit was SEK 3.9 billion. Earnings per share amounted to SEK 9.27. The Group currently has around 54,000 employees. The Skanska Group has its head quarter in Solna, Sweden.
In Mid 2004, SKANSKA decided to divest its investment from ASIA which were acquired indirectly. SKANSKA sold its Indian subsidiary to Thailand based Construction Firm Italian Thai Development Company
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