Skanska organizes for profitability in Danish operations - reduction of personnel

Press Release

August 21, 2001

Skanska organizes for profitability in Danish operations - reduction of personnel

Skanska is continuing to work with the reorganization of the Group's construction operations in Denmark to pave the way to continued development and future profitability. The number of personnel is being reduced today by 61 salaried employees who are being served notice of termination of employment.

Consequently, Skanska Denmark has reduced the number of salaried employees by a total of about 200 persons, or about 20 per cent, within staff positions and the construction divisions. The largest reductions were on Zealand, where the number of salaried employees was cut 25 per cent.

A new management was appointed at Skanska Denmark at the beginning of the year. Thereafter an action plan was established to reduce overhead costs and for implementation of improved control and follow-up systems. Net sales will be reduced from the year-earlier level of SEK 6 billion (DKK 4.8 bn).

"As a result of the reorganization, we have created a platform to fulfill the demands for profitability. At the same time, these efforts provide the conditions to establish the industry's best and strongest brand in the same manner as Skanska succeeded in doing in several international markets," says Per-Ingemar Persson, President of Skanska Denmark.

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For further information please contact:

Finn Serup Jensen, Head of communications, Skanska Denmark, Tel  +45 44 77 95 75,
Mobile +45 21 48 79 66

Tor Krusell, Senior Vice President Corporate Communications, Skanska AB, Tel +46 8 753 87 47