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Skanska makes bolt-on acquisition in Slovakia

Press release 11/3/2004 10:03 AM CET

Skanska is acquiring the Slovakian installation company Klimavex. The sellers are two private persons. The company will be consolidated in the Czech business unit Skanska CZ as of the first quarter of 2005.
Klimavex has a total of 160 employees. In 2003, the company reported sales of about SEK 100 M (SKK 447 M) and operating profit of SEK 10.3 M (SKK 45.8 M).

  Press Release


November 3, 2004

 

Skanska makes bolt-on acquisition in Slovakia

Skanska is acquiring the Slovakian installation company Klimavex. The sellers are two private persons. The company will be consolidated in the Czech business unit Skanska CZ as of the first quarter of 2005.

Klimavex has a total of 160 employees. In 2003, the company reported sales of about SEK 100 M (SKK 447 M) and operating profit of SEK 10.3 M (SKK 45.8 M).

Through the bolt-on acquisition, Skanska expands its platform on the growing construction market in Slovakia, where Skanska last year acquired Banske Stavby, a tunnel specialist.

In addition to technical expertise in the installation sector, Klimavex also contributes a strong customer base within the construction sector. The growth and synergy potentials are considered to be high in the Czech Republic as well as Slovakia.

The Klimavex management will continue to lead the company, which will operate as a unit within Skanska CZ.

Klimavex specializes in the development, engineering and installation of ventilation systems. Customers include US Steel, Slovak Telecom, Siemens, Sony and Neusiedler SCP. The company was founded in 1989 as the first private company in the former Czechoslovakia. Headquartered in Kosice, with branches in Trencin and Bratislava, Slovakia, the company is ISO 9002 certified. 

Skanska CZ, which is the largest construction company in the Czech Republic, had annual sales in 2003 of SEK 7.6 billion. Operations include building construction and civil engineering projects.
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For further information please contact:

Ondrej Such, Press Officer, Skanska CZ,
tel. +420 267 095 444
Anna Wenner, Press Officer, Skanska AB, +46 8 753 88 39