Skanska
From Wikipedia, the free encyclopedia
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| Type | Public (OMX: SKA B) |
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| Founded | 1877 |
| Headquarters | Solna, Sweden |
| Key people | Johan Karlström (President and CEO), Sverker Martin-Löf (Chairman of the board) |
| Industry | Construction |
| Products | Residential, commercial and infrastructure developments |
| Revenue | SEK 143,674 million (2008)[1] |
| Operating income | ▲ SEK 4,086 million (2008)[1] |
| Profit | ▲ SEK 3,102 million (2008)[1] |
| Employees | 58,000 (2008)[1] |
| Website | www.skanska.com |
Skanska, is a multinational construction and development company based in Sweden, where it is also the largest construction company.
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[edit] History
Aktiebolaget Skånska Cementgjuteriet was established in 1887 and started by manufacturing concrete products.[2] It quickly diversified into a construction company and within 10 years the company received its first international order.[2] The company played an important role in building up Sweden’s infrastructure including roads, power plants, offices and housing.[2]
Growth in Sweden was followed by international expansion. In the mid 1950's 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.[2] 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.[2]
During the latter part of the 1990's, Skanska expanded substantially both organically and by acquisition.[2]
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.[3]
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.[4]
[edit] Current activities
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 ongoing projects.
Skanska was the No. 1 "Green Builder" in the United States in 2007[5] and was ranked No. 3 "Green Contractor" in the United States 2008.[6]
Skanska was ranked the 10th largest contractor in the world in 2008[7] and was the 6th largest contractor in the United States.[8]
[edit] Major projects
Major projects in the United Kingdom have included 30 St Mary Axe in London completed in 2004.[9] Skanska is currently constructing Heron Tower in London, which will be 246m when complete, making it the tallest building in the UK before it gets overtaken by the Bishopsgate Tower and London Bridge Tower, and which is due to be completed in early 2011.[10]
Major projects in the United States include the new Meadowlands Stadium (home to the Giants and the Jets NFL franchises), due to be completed in 2010.[11] Skanska is also the construction manager for Madison Square Garden's renovation project, due to be completed in 2012.[12]
Another ongoing major project is the renovation and addition to the United Nations building, due to be completed in 2014.[13]
Other ongoing 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.[14] Skanska is also a member of consortium responsible for the Second Avenue Subway tunneling project, due to be completed in 2016.[15]
[edit] See also
[edit] References
- ^ a b c d "Annual Report 2008". Skanska. http://www.skanska.com/upload/Investors/Reports/2008/Annual_report/skanska_annual_report_2008.pdf. Retrieved on 2009-03-10.
- ^ a b c d e f Skanska: History
- ^ ITD Cementation India
- ^ Skanska likely to be involved in a corruption scandal in Argentina Pravda, 20 March 2007
- ^ Skanska: Green Builder
- ^ Top Green Contractors ENR
- ^ Top Global Contractors ENR
- ^ Top US Contractors ENR
- ^ The erotic gherkin is in a pickle The Telegraph, 23 November 2002
- ^ Skanska win Heron Tower contract Skyscrapernews, 31 October 2007
- ^ Meadowlands Stadium
- ^ Jones Lang LaSalle project manager for $500m Madison Square Garden renovation New York Real Estate Journal
- ^ UN signs contract with Skanska Reuters, 27 July 2007
- ^ Phoenix Constructors
- ^ New York Construction: Top Projects
[edit] External links
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