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Skanska to renovate and expand University campus in Louisiana, USA, for USD 54 M, about SEK 350 M

Skanska (STO:SKAB) has signed a contract to renovate and expand the Patrick F. Taylor Hall building on the Louisiana State University (LSU) main campus in Baton Rouge, Louisiana, USA. Skanska is leading a joint venture with MAPP Construction and will include its full 70 percent share of the contract, USD 54 M, about SEK 350 M, in the order bookings for Skanska USA Building in the second quarter 2014.

The three-story 28,000 square meter building, completed in 1977, currently functions as classrooms, labs and offices for the College of engineering. The renovation portion of the project include reconfiguration of the existing Patrick F Taylor Hall and the expansion portion of the project will add about 12,000 square meters of classrooms, labs and offices as well as a new auditorium.

The renovation of the existing building will begin in January of 2015, and construction of the new expansion is expected to begin in November of 2014. The entire project is expected to be completed in June 2017.

Skanska USA is one of the leading development and construction companies in the country, consisting of four business units: Skanska USA Building, which specializes in building construction; Skanska USA Civil, specialized in civil infrastructure; Skanska Infrastructure Development North America, which develops public-private partnerships; and Skanska USA Commercial Development, which develops commercial projects in select U.S. markets. Headquartered in New York, Skanska USA has more than 9,600 employees and its 2013 revenues were SEK 43.5 billion.

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 projects and public-private partnerships. Based on its global green experience, Skanska aims to be the clients' first choice for Green solutions. The Group currently has 57,000 employees in selected home markets in Europe, in the US and Latin America.

Headquartered in Stockholm, Sweden and listed on the Stockholm Stock Exchange, Skanska's sales in 2013 totaled SEK 136 billion.