Skanska bookings hit by US cancellation

Skanska has cut US$ 800 million from its order booking following the cancelation of a contract in the US.

The company said the move came for its Skanska USA Building subsidiary after the it and a joint venture partner failed to come to an agreement with the client on an unnamed project over the revised scope of work. It added that the client then elected to terminate the contract.

Skanska will cut around US$ 800 million from Skanska USA Building’s second quarter order backlog figures.