Company: Skanska Construction Group

Founder: Balthasar and Philipp Helfmann

Industry: Construction

History:
Skanska multinational construction company was instituted in Malmö, Sweden in 1887, where it initially produced concrete products. It eventually became a construction company and took in its first international project within a span of 10 years. Skanska had a vital role in reinforcing Sweden’s various infrastructures-from power plants to roads, to houses and offices.

After the country’s economic growth in the 1950s, Skanska decided to turn global and offered its services to the international market. Years later, the company worked in Africa, Asia and South America. In 1971, Skanska hit the US market and quickly became one of the largest construction companies. In 2007, Skanska placed first as a pro-green company and ranked third place in the green contractors’ category.

During the late 90s, Skanska grew significantly by acquisition. In mid-2004, the company divested its Asian assets, particularly its subsidiary in India, and sold them to Italian Thai Development Company.

Skanska functions in four business sectors: construction, commercial development, residential and infrastructure development. The company’s main markets are situated in the Nordic region, United Kingdom, Central Europe, Latin America and the United States. The Skanska Group’s operations are focused on local business groups. At present, the group has projects numbering to thousands.

Leadership:
Johan Karlström, President and Chief Executive Officer
Sverker Martin-Löf, Chairman