STOCKHOLM, Sweden, June 9, 2004 (PRIMEZONE) -- Skanska and Al Rushaid Investment Company have signed an agreement, whereby Al Rushaid will take over Whessoe, a British engineering firm with about 100 employees.
The sale is part of Skanska's strategy to focus on achieving a leading position within its core operations in selected home markets.
Skanska Whessoe is an engineering firm that specializes in Liquid Natural Gas plants in the international market. The company posted sales of SEK 371 M in 2003 and an operating loss of SEK 8 M. The British company was part of the acquisition of Kvaerner's construction operations in 2000. Since January 1, 2004, Whessoe has been part of the Skanska International business unit.
The book value of the capital employed is slightly less than SEK 30 M. The sale will generate a slightly negative impact on Skanska's earnings.
For further information, please contact:
Hans Biorck, Executive Vice President and CFO, Skanska AB, tel +46 8 753 88 00 Anders Lilja, Senior Vice President, Investor Relations, Skanska AB, tel +46 8 753 88 01 Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38
This and previous releases can also be found at www.skanska.com
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http://www.waymaker.net/bitonline/2004/06/09/20040609BIT20260/wkr0001.pdf