Skanska sells construction operations in Lithuania
Skanska has sold its construction operations in Lithuania. The sale of Skanska Statyba UAB is a step in Skanska’s efforts to focus on selected home markets.
The sale will have a positive impact on Skanska’s income. The buyer is Panevezio Keliai AB, a local construction company. The business will continue under the new name Constructus and will be headed by Virgaudas Juocevicius, the former president of Skanska Statyba UAB.
Press Release
July 24, 2003
Skanska sells construction operations in Lithuania
Skanska has sold its construction operations in Lithuania. The sale of Skanska Statyba UAB is a step in Skanska's efforts to focus on selected home markets.
The sale will have a positive impact on Skanska's income. The buyer is Panevezio Keliai AB, a local construction company. The business will continue under the new name Constructus and will be headed by Virgaudas Juocevicius, the former president of Skanska Statyba UAB.
Skanska also intends to exit the construction market in Latvia and during spring the construction business in Hungary has been closed down.
The divestment comes after the strategic review of the Group that was conducted in autumn 2002 and announced in January, in which Skanska intends to focus on achieving a leading position in selected home markets.
In 2002 Skanska Statyba UAB posted sales of EUR 9 M, SEK 82 millions. The company, which reported to the business unit Skanska Oy, has 38 employees.
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For further information please contact:
Cristina Rinnetie-Uski, Communications Manager, Skanska Oy, tel +358 9 6152 2300
Peter Gimbe, Press Officer, Skanska AB,
tel +46 8 753 88 38