Skanska To Build Biotech Plant for Pfizer For SEK 600 M

Business Wire, Dec 15, 2006

STOCKHOLM, Sweden -- Skanska (STO:SKAB) has been commissioned to build a biotech plant in StrEnngnEns, Sweden. Skanska will also be responsible for installing the process equipment. Skanska's contract amounts to approximately SEK 600 M, which will be included in order bookings for the fourth quarter. Of the amount, 60 percent is included in Skanska Sweden and 40 percent in Skanska USA Building.

The customer is the Pfizer pharmaceuticals company, which is investing approximately SEK 1.5 billion in the facility. The aim is to create a flexible biotechnology production facility further strengthening Pfizer's capability in the growing area of medicine production.

"We are very proud for being awarded yet another project for Pfizer. And it is especially rewarding since our U.S. and Swedish teams are joining forces to be able to extend our services for Pfizer," says Stuart Graham, President and CEO Skanska AB.

The project comprises an approximately 5,000-square-meter building that will be adjoined to an existing plant. Skanska has previously built a number of plants in Sweden for customers in the pharmaceuticals industry. However, this will be the first time that Skanska Sweden also is responsible for the installation of process equipment. Accordingly, Skanska Sweden will be assisted by experts from Skanska USA Building, which has long-standing experience of this type of commitment for the US biopharma industry.

Construction work is under way and is expected to proceed for 30 months.

The new plant will be designed to making the manufacturing process for Genotropin more efficient. It also enables Pfizer to handle other biotech products at the facility in the future.

Pfizer, the world's largest pharmaceuticals company, is one of Skanska's recurring global customers. Pfizer's national head offices in Sweden and Finland were built by Skanska and in Denmark the expansion of Pfizer's Danish offices is under way. In the US, Skanska has completed several projects on behalf of Pfizer over the years, and currently a laboratory is being built in Ann Arbor, Michigan.

This and previous releases can also be found at www.skanska.com

Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 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 2005 totaled USD 17 billion.

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