Skanska

Skanska AB (ˈskânːska) is a multinational construction and development company based in Sweden. Skanska is the fifth-largest construction company in the world according to Construction Global magazine. Notable Skanska projects include renovation of the United Nations Headquarters, the World Trade Center Transportation Hub project, Moynihan Train Hall, 30 St Mary Axe, MetLife Stadium, Mater Dei Hospital, among others. Aktiebolaget Skånska Cementgjuteriet (Scanian Cement Casting Ltd) was established in Malmö, Sweden, in 1887 by Rudolf Fredrik Berg and started by manufacturing concrete products. It quickly diversified into a construction company and within ten years the company received its first international order. The company played an important role in building Sweden's infrastructure including its roads, power plants, offices and housing. Growth in Sweden was followed by international expansion. In the mid-1950s Skånska Cementgjuteriet made a major move into international markets. During the next decades it entered South America, Africa and Asia, and in 1971 the United States market, where it today ranks among the largest in its sector. The company was listed on the Stockholm Stock Exchange A-list in 1965. In 1984 the name "Skanska," already in general use internationally, became the group's official name. During the latter part of the 1990s, Skanska expanded substantially both organically and by acquisition. In August 2000 it bought the construction division of Kvaerner. In mid-2004, Skanska decided to divest its Asian investments and sold its Indian subsidiary to the Thailand based construction firm Italian Thai Development Company. In 2011, Skanska acquired Industrial Contractors, Inc of Evansville, Indiana, United States. Skanska divides its operations into four business streams: Construction is the largest business stream by revenue and number of employees. The operations of the other business streams involve investments in projects that are developed and later divested.