Skanska

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Skanska AB
Type Publicly traded Aktiebolag
Traded as OMXSKA B
Industry Construction
Founded 1887
Headquarters Solna, Stockholm, Sweden
Key people Johan Karlström (President and CEO), Stuart Graham (Chairman)
Products Residential, commercial and infrastructure developments
Revenue SEK 118.734 billion (2011)[1]
Operating income SEK 8.413 billion (2011)[1]
Profit SEK 7.595 billion (2011)[1]
Total assets SEK 82.770 billion (end 2011)[1]
Total equity SEK 19.583 billion (end 2011)[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[edit]

Aktiebolaget Skånska Cementgjuteriet (Skanska Cement Casting Ltd) 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 August 2000 it bought the construction division of Kvaerner.[4]

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.[5]

In 2005, Skanska was awarded a gas pipeline contract in Argentina, and later, suspicions were raised that government corruption had been involved. Skanska performed its own investigation, dismissed seven managers, and worked closely with the authorities concerning the inquiry.[6][7][8][9]

In 2011, Skanska acquired Industrial Contractors, Inc of Indiana, United States.[10]

Operations[edit]

Skanska divides its operations into four business streams:

  • Construction
  • Residential development
  • Commercial property development
  • Infrastructure development

Construction is the largest business stream by revenue and number of employees. The operations of the other business streams involve investments in projects that are developed and later divested. With regard to infrastructure development, this often involves public–private partnerships (PPP). Geographically, the group operates based on local business units.[1]

Skanska was the No. 1 "Green Builder" in the United States in 2007[11] and was ranked No. 3 "Green Contractor" in the United States 2008.[12] In 2011, Skanska was ranked the greenest company in the United Kingdom, despite belonging to an industry with a generally high environmental impact.[13] An official vision stated by Skanska is “the five zeros”: zero loss-making projects, work site accidents, environmental incidents, ethical breaches and defects.[1]

In 2012, Skanska was ranked the 9th largest contractor in the world[14] and the 7th largest contractor in the United States.[15]

Markets[edit]

As of 2011, Skanska was focused on the following selected markets:

Skanska also operates in Colombia, Denmark, Hungary, Peru, Romania, and Venezuela.[1]

Major projects[edit]

Europe[edit]

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.[16][17] In Malta, Skanska built the Mater Dei Hospital, which opened in 2007.[18] Skanska finished constructing the 230m Heron Tower, upon completion the tallest building in the City of London, in 2010.[19] Skanska built the Øresund Bridge that opened in 2000 and forms part of the road and railway connection between Sweden and Denmark.[20][21]

United States[edit]

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.[22] 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. [23]

Another continuing major project is the renovation of, and addition to, the United Nations building, due to be completed in 2014.[24]

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, including the Oculus station entrance, designed by Santiago Calatrava.[25][26] Skanska is also a member of consortium responsible for the Second Avenue Subway tunneling project, due to be completed in 2016.[27]

See also[edit]

References[edit]

  1. ^ a b c d e f g h i "Annual Report 2011". Skanska. Retrieved 20 September 2012. 
  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. ^ Skanska buys Kvaerner arm for £180m The Telegraph, 30 August 2000
  5. ^ ITD Cementation India
  6. ^ "Sweden's squeaky-clean image sullied by scandals". The New York Times. May 11, 2007. Retrieved Jan 15, 2013. 
  7. ^ "Skanska likely to be involved in a corruption scandal in Argentina". Pravda. Mar 20, 2007. Retrieved Jan 15, 2013. 
  8. ^ "Gas and graft". The Economist. May 10, 2007. Retrieved Dec 21, 2012. 
  9. ^ "Argentine Corruption: Skanska's Version". Latin Business Chronicle. Jul 30, 2007. Retrieved Dec 21, 2012. 
  10. ^ "Skanska USA buys Industrial Contractors, Inc.". Evansville Courier & Press. Dec 29, 2011. Retrieved Jan 15, 2013. 
  11. ^ Skanska: Green Builder
  12. ^ Top Green Contractors ENR
  13. ^ "Revealed: the greenest companies". The Sunday Times. Jun 12, 2011. Retrieved Dec 21, 2012. 
  14. ^ "The Top 225 International Contractors". Engineering News-Record. 2012. Retrieved Jan 15, 2013. 
  15. ^ "The Top 400 Contractors". Engineering News-Record. 2012. Retrieved Jan 15, 2013. 
  16. ^ The erotic gherkin is in a pickle The Telegraph, 23 November 2002
  17. ^ Charles Ajunwa (Nov 18, 2012). "London: The Amazing Attractions". This Day. Retrieved Jan 15, 2013. 
  18. ^ Times of Malta 30th July 2009
  19. ^ Skanska win Heron Tower contract Skyscrapernews, 31 October 2007
  20. ^ Almar Latour (Mar 19, 1999). "Skanska Builds on Global Strategy; CEO's Expansion Drive Fuels Growth". The Wall Street Journal. Retrieved Jan 15, 2013. 
  21. ^ Linda Nohrstedt (Mar 25, 2009). "Vi hade en otroligt bra kund" (in Swedish). Byggvärlden. Retrieved Jan 15, 2013. 
  22. ^ Meadowlands Stadium
  23. ^ "Skanska wins Alaskan Way Viaduct project in Washington". 
  24. ^ UN signs contract with Skanska Reuters, 27 July 2007
  25. ^ Phoenix Constructors
  26. ^ "Skanska To Fabricate Oculus Building At Ground Zero Transit Hub". ENR New York. May 9, 2011. Retrieved Jan 15, 2013. 
  27. ^ New York Construction: Top Projects

External links[edit]