Skanska B Ord Regulatory News (0HBT)

8 Dec 2006 11:11

Skanska ABB (IRS)08 December 2006 8th December 2006 Skanska acquires McNicholas Plc - "Brown Macs" Skanska UK has today completed the acquisition of McNicholas Plc "Brown Macs",the UK's leading street works contractor. The purchase price amounts toapproximately £50 million. David Fison, Chief Executive, Skanska UK: "The acquisition of McNicholas Plc ispart of our strategy to grow and develop our UK utilities and infrastructureservices business. We know McNicholas Plc well and have developed an excellentworking relationship through our successful joint venture undertaking the gasdistribution mains replacement programme for National Grid in the North LondonArea. "The company is a long established contractor with a strong position in highwaysmaintenance, power, gas, water and rail projects in London and the South Eastand I am delighted they are now part of the Skanska family." McNicholas Plc, whose revenue amounted £150 million in 2005, will be merged withSkanska UK's existing Utilities Operating Unit. Headed up by Stewart Keeble, thecombined business will deliver annual revenue of over £300 million, makingSkanska one of the largest utilities and infrastructure services providers inthe UK. Commenting on today's announcement, Michael Doherty, who as Managing Director ofMcNicholas Plc has grown and developed the business over the last decade and whoremains with Skanska as non-executive director said: "The integration of ourbusinesses is very positive for both customers and employees. The comingtogether of Skanska and McNicholas will allow us to accelerate our strategicplans, to broaden our solutions and build a service-offering which very fewcompetitors will be able to match." ENDS For further information please contact: Tanya Barnes, Head of Communications - tel. 01923 423 905 This and other press releases can be found at www.skanska.co.uk Notes to Editors: * Skanska's results, announced on February 16th 2006 reported that the UK had achieved Revenue of £793 million and Operating Income of £25.5 million for the year ending December 31st 2005. * Skanska UK employs 3500 people across nine core operating units covering design, building, civil engineering and building services with a wide range of specialist skills all focussed solely on the UK marketplace. * These operating units are structured under three clearly defined business streams covering Skanska UK's strategic areas of operation: o PFI/PPP Business Stream o Civil Engineering & Specialists Business Stream o Construction Business Stream * The structure of Skanska UK enables us to easily integrate our core operating units to provide a construction service to our clients that shows real benefits. * All Skanska UK companies have attained certification to the management systems ISO 14001, ISO 9001 and OHSAS 18001. * Skanska UK is part of Skanska AB. Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. Skanska is committed to finding innovative solutions by cooperating closely with customers and combining the company's international expertise with local presence. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2005 totalled USD 17 billion. * Skanska UK operates to the Skanska Code of Conduct, a copy of which is published on our website. This information is provided by RNS The company news service from the London Stock Exchange