Skanska signs additional contracts for office improvements in western USA for USD 80M, about SEK 680M

Rhea-AI Summary

Skanska has secured a contract worth USD 159M for corporate office improvements in the western USA, with their share totaling USD 80M (approximately SEK 680M). This contract will contribute to the US order bookings for Q3 2021. Construction is currently underway and is set to be completed by December 2023. In 2020, Skanska USA reported sales of SEK 66 billion and employed around 7,600 people, solidifying its position as a leading player in the construction and project development sector in the U.S.

Positive

• Contract worth USD 159M signed for corporate office improvements.
• Skanska's share in the contract amounts to USD 80M, boosting order bookings.

Negative

• None.

ÖSTERSUND, Sweden, Oct. 8, 2021 /PRNewswire/ -- Skanska has signed additional contracts with an existing client for improvements to their corporate office in the western USA. The contract with our joint venture Skanska Balfour Beatty is worth USD 159M. Skanska's portion is worth USD 80M, about SEK 680M, which will be included in the US order bookings for the third quarter of 2021.

Construction is underway and is scheduled for completion in December 2023.

Skanska is one of the leading construction- and project development companies in U.S., specialized in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 66 billion in 2020 and had about 7,600 employees in its operations.

For further information please contact:

Yena Williams, Communications Director, Skanska USA, tel + 1 213 514 2918

Andreas Joons, Press Officer, Skanska AB, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-signs-additional-contracts-for-office-improvements-in-western-usa-for-usd-80m--about-sek-680,c3429137

The following files are available for download:

https://mb.cision.com/Main/95/3429137/1478358.pdf

20211008 US office improvements

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SOURCE Skanska

FAQ

What is the value of the contract Skanska signed for office improvements?

The contract is valued at USD 159M, with Skanska's portion being USD 80M.

When is the construction for Skanska's contract scheduled to complete?

The construction is scheduled for completion in December 2023.

How much did Skanska USA earn in sales during 2020?

Skanska USA had sales of SEK 66 billion in 2020.

What is the expected impact of the new contracts on Skanska's order bookings?

The contract will be included in the US order bookings for the third quarter of 2021.