STOCKHOLM, Sweden, July 16, 2003 (PRIMEZONE) -- Skanska (Other OTC:SKSBF) has secured three road-construction assignments in the Czech Republic. The contracts are valued at a total of SEK 310 M (CZK 1,074 M) and have been included in the order bookings for the second quarter of 2003.
The largest assignment is for a highway between Hradec Kralove and Pardubice in the central Czech Republic, about 100 km east of Prague. This contract is valued at a total of SEK 428 M (CZK 1,480), of which Skanska has 69 percent. The customer is the Czech Road Authority.
The highway extension is 11 km long and the project also includes 15 bridges of varying length. Work will commence soon and is scheduled for completion in October 2007.
The other contracts are for two smaller road projects in Bystre-Svojanov and Hlinsko-Jankovice. These are valued at a total of SEK 15 M (CZK 53 M). The customers are the local road authorities.
These projects are being conducted by the Czech subsidiary, Skanska CZ, which is the Czech Republic's largest construction company, with sales of approximately SEK 7 billion. Infrastructure projects account for about half of its sales. Skanska CZ is demonstrating strong profitability and doubled its operating margin in 2002 to 5 percent compared with the preceding year.
For further information please contact: Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38 Arne Kejdana, Communication Manager, Skanska CZ, Tel: +420 267 095 444, +420 737 255 016
This and previous releases can also be found at www.skanska.com
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