Skanska’s new Czech company to construct TV plant for Philips in Czech Republic - Order valued at approximately SEK 380 M
Skanska’s Czech subsidiary, IPS Skanska, has secured a contract to expand Philips Picture Tube Technology Centers’ plant for the manufacturing of television tubes in the Czech Republic. The contract is valued at approximately SEK 380 M.
The contract demonstrates continued confidence in IPS Skanska, which recently completed the first phase of Philips’ plant at Hranice na Morave, near Olomouc in the central Czech Republic. This assignment was valued at approximately SEK 150 M. The two assignments have a combined total value of SEK 530 M in buildings and systems.
Press Release
May 21, 2001
Skanska's new Czech company to construct TV plant for Philips in Czech Republic - Order valued at approximately SEK 380 M
Skanska's Czech subsidiary, IPS Skanska, has secured a contract to expand Philips Picture Tube Technology Centers' plant for the manufacturing of television tubes in the Czech Republic. The contract is valued at approximately SEK 380 M.
The contract demonstrates continued confidence in IPS Skanska, which recently completed the first phase of Philips' plant at Hranice na Morave, near Olomouc in the central Czech Republic. This assignment was valued at approximately SEK 150 M. The two assignments have a combined total value of SEK 530 M in buildings and systems.
The new 40,000-square-meter plant will contain a facility for the manufacture of picture tubes and logistics distribution premises.
Work on the new phase is to commence immediately. Certain sections of the plant will be brought into use in the spring and completion is scheduled for June. IPS Skanska will be responsible for construction, installation work and infrastructure in the area that has been designated for further expansion. Philips plans to invest a total of approximately USD 180 million in the plant - the largest foreign greenfield investments in the Czech Republic in recent years. Philips was recently awarded with the Investor of the Year award in the Czech Republic by the Ministry of Industry and Trade.
Philips expects to produce about 2.5 million TV picture tubes per year at the Czech plant, which initially will have approximately 1,200 employees.
Skanska holds 95 percent of the shares in IPS, which is the Czech Republic's largest construction services company. IPS had sales of SEK 5.7 billion in 2000. The company has 7,200 employees.
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For further information please contact:
Dana Lehká, Director Public Relations, IPS Skanska,
Tel: + 420 2 67 095 205, e-mail:
Tor Krusell, Senior Vice President, Corporate Communications, Skanska AB, Tel: + 46 8 753 87 47