Skanska strengthens its position in the U.S.
Skanska strengthens its position in the U.S. Skanska has strengthened its position as the fifth largest construction services company in the U.S. The increase in annual sales is four times higher than the market average. Total sales of the 400 largest U.S. construction companies during 1998 was slightly more than USD 127 billion, up 13%. During the same period, Skanska increased its sales slightly more than four times the market rate. Consequently, Skanska is strengthening its position as the fifth largest construction services company in the world's largest construction market. The total U.S. building market is estimated at USD 650 billion. This information was presented in the annual statistical summary of the construction industry prepared by ENR, the U.S. Engineering News-Record. ENR's rankings are based on a company's total sales. Skanska's fifth place is based on sales in the domestic American market. Skanska's strongest area is building construction, where the company holds a third place in the total ranking. Building construction (residential, office, hospitals, etc.) is the largest segment, accounting for more than half (56%) of the total construction market in the U.S. Growth in this area was 18%. Skanska USA's order backlog at March 31, 1999 amounted to slightly more than SEK 48 billion, compared with SEK 32 billion, on the same date a year earlier. Stockholm, June 15, 1999 SKANSKA AB Group Communication For additional information, contact: Stuart Graham, President, Skanska USA, tel + 1 718 747 34 54 Tor Krusell, Director, Group Communication, Skanska AB, + 46 8 753 87 47 This and previous releases are also available on www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/15/19990615BIT00200/bit0001.doc http://www.bit.se/bitonline/1999/06/15/19990615BIT00200/bit0002.pdf