Skanska makes strategic acquisition of MIAB industrial service company
Skanska makes strategic acquisition of MIAB industrial service company Skanska Services is acquiring the industrial service company Marieholms Industrirengöring AB (MIAB). The company performs production services for companies in the automotive, petrochemical and defense industries. The seller is the six person MIAB management team, all of whom will continue to work in the company. The sales amount to SEK 127 M. "This is a strategic acquisition that provides a platform for increasing our range of services to industrial customers," Mats Jönsson, president of Skanska Services, says. "With MIAB we are now acquiring the operating expertise that is demanded in the market for production service," Mats Jönsson says. "This enables us to obtain assignments from industrial companies by offering our total line of facilities-management services." Expansion in the field of facilities management is in line with Skanska's business strategy. The acquisition also gives MIAB increased opportunities to expand and broaden its customer base. Skanska Services is active in facilities management. This involves assuming total responsibility for developing and performing service for a company under its own management by taking over the customer's service organization or via subcontractors. Skanska Services' facilities- management operations comprise workplace support (like office service, catering), IT service, property support and production support. The acquisition of MIAB strengthens Skanska Services' ability to take on facilities-management assignments for the process and production industry. The implementation of the transaction is conditional on the approval of the Swedish Competition Authority. Skanska Services, which was established in 1998, today has operations in Sweden, Denmark, Finland and Great Britain. It has approximately 1,350 employees, with annual sales of approximately SEK 2.5 billion. Facts about Marieholms Industrirengöring Sales SEK 127 M Operating SEK 7.6 M profit Employees 250 Locations Göteborg, Kalmar, Trollhättan and Oskarshamn Largest Volvo Car Corporation, SAAB Automobile, Scania customers and Bombardier Operations Process cleaning, high-pressure water-blasting, vacuuming cleaning. Develops function solutions for sensitive production lines, including painting and drying lines in the automotive industry, and conventional cleaning For further information please contact: Bertil Johansson, Senior Vice President, Production and Process Services, Skanska Services, tel +46 8 31 771 11 69 or +46 702 99 45 00 Peter Gimbe, Press Officer, Skanska AB, tel +46 8 753 88 38 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/25/20030225BIT00200/wkr0001.doc http://www.waymaker.net/bitonline/2003/02/25/20030225BIT00200/wkr0002.pdf