US cancelations hit Skanska
14 October 2014
Skanska’s USA Building division has been hit by US$ 161 million in lost orders due to the cancellation of two projects.
In Boston, the cancellation of construction on the Ruth Mulan Chu Chao Center by Harvard Business School will wipe some US$ 51 million from the company’s order book. Ground was broken on the four-storey, 90,000 ft2 (8,364 m2) building to house meeting, office and dining facilities on the famous campus in April.
Meanwhile, the Morton Plant Hospital Association has cancelled the order for construction of a hospital building in Florida worth some US$ 110 million.
The cancellations will reduce Skanska USA Building’s backlog by US$ 161 million, and the company said it would book these in its third quarter figures.