Skanska Enters Contract with ESS to Build First Phase of Research Facility in Lund, Sweden

Skanska has signed a contract with ESS, European Spallation Source, to build the first phase of a state-of-the-art research facility in Lund, Sweden. The contract is worth SEK 670 M and the work will be performed by Skanska Sweden (75 percent) together with Skanska UK (25 percent). This means that SEK 503 M is included in order bookings for Skanska Sweden for the fourth quarter of 2014, and the remainder in order bookings for Skanska UK in the same quarter.

Skanska and ESS have jointly planned and developed target cost for the first phase, including ground work, infrastructure at the work site, accelerator tunnel and adjoining buildings.

The construction project is planned in several stages where separate agreements are concluded at the beginning of each stage.

Construction work will start immediately and the research facility will be completed in 2019. Work is underway to define the scope and target cost for the next stage.

Skanska Sweden is one of Sweden’s largest construction companies, with operations in building and civil-engineering construction. The business unit has approximately 11,000 employees and revenue in 2013 amounted to approximately SEK 30 billion. In Sweden, Skanska is also active in the development of residential construction and commercial premises.

Skanska AB may be required to disclose the information provided herein pursuant to the Securities Markets Act.

Skanska is one of the world’s leading project development and construction groups with expertise in construction, development of commercial and residential premises, and public-private partnership projects. Based on its global green experience, Skanska aims to be the client’s first choice for green solutions. The group currently has 57,000 employees in selected home markets in Europe, the US and Latin America. Skanska's sales in 2013 totaled SEK 136 billion.

Source: http://www.skanska.com/

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