Skanska looks set to win a greater share of tunnelling work in the Czech Republic and Slovakia following the acquisition of Slovakian civil engineering company Banské Stavby.
Skanska is purchasing the share majority in the company, for an undisclosed sum. Banské Stavby will be consolidated within Skanska CZ (it’s Czech business unit) in the second quarter of 2003.
Banské Stavby specialises in tunnelling and underground construction – mainly transport infrastructure, as well as water and sewage facilities. In 2001, the company had sales of about US$14M, and an operating profit of US$824,000. Based in Prievidza, the company has 500 employees.
Skanska CZ is the largest construction company in the Czech Republic, with sales of about US$824M. The company doubled its operating margin in 2002 to 5%, compared to 2001.
