Skanska sells construction operations in Latvia
Published:
16 August 2003 y., Saturday
Skanska has sold its construction operations in Latvia. The sale of Skanska Konstrukcija SIA is a step in Skanska's efforts to focus on selected home markets.
The sale will have a minor positive impact on Skanska's income. The buyer is Panevezio Keliai AB, a Lithuanian construction company. The business will continue under the new name Constructus SIA.
Skanska's construction operations in Lithuania were sold to Panevezio Keliai AB in July this year 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 Konstrukcija SIA posted sales of EUR 2.3 M. The company, which reported to the business unit Skanska Oy, has 29 employees.
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