New contracts and acquisition for Skanska

By Helen Wright19 October 2011

Johan Karlström, president and CEO at Skanska

Johan Karlström, president and CEO at Skanska

Swedish contractor Skanska has won SEK5.2 billion (€572 million) worth of contracts since the start of October and has also acquired a Finnish construction company, Soraset Yhtiöt Oy, for an undisclosed price.

Civil infrastructure contractor Soraset Yhtiöt Oy Skanska recorded net revenues of €100 million last year.

Meanwhile, the most lucrative new contract award won by Skanska so far in October was an SEK2.4 billion (€264 million) deal to construct the final phase of the City University of New York Advanced Science Research Campus at City College in Manhattan, US.

The company also won a railway and tunnelling contract in Norway worth SEK1.6 billion (€176 million). The project involves constructing a double track high-speed rail line on the Vestfold Line between Drammen and Porsgrunn, and includes building a 2.4km long tunnel and a station hall measuring 866m long.

Other new contract awards include a SEK512 million (€56 million) contract to complete the renovation of a research and development laboratory in Kenilworth, New Jersey, US, and a SEK440 million (€48 million) road building contract in Poland for a stretch of the S8 express road near Łódź and the A1 motorway near Wrocław.

This month Skanska also won a SEK310 million (€24 million) contract in Poland to construct bridges and access roads near Wrocław.

The news comes after Skanska won two separate construction contracts in September worth a total of US$ 596 million (€432 million) to develop sections of the New York subway system.

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