Eastern European Markets
August 18, 2005

Hansastroi bought St. Petersburg based constructioncompany of Skanska

Part of Skanska’s former Finnish managers acquired, in the name of Hansastroi Oy, a company founded by them, all shares of the St. Petersburg based company ZAO Skanska Stroy and will continue its activities in St. Petersburg and other parts of Russia.

The orderbook of ZAO Skanska Stroy exceeds 100 million euros, and the company is constructing, among others, a multifunctional arena in Cherepovets. It is agreed, that the projects under construction will be completed in cooperation with the seller.

The company continues its operations under the name ZAO Hansastroi and with the current personnel. Mr. Kari Mölsä, BSc(CE), who is also a shareholder of Hansastroi Oy, continues as General Director of ZAO Hansastroi. In Hansastroi Oy Mr. Timo Vilén, MSc(Econ), has been invited as Managing Director and the Chairman of the Board of Directors of the company is the former President of Skanska Oy, Mr. Eero Makkonen, who says:

“The construction market in St. Petersburg and generally in Russia is growing. We will continue the operations of the company as a producer of quality construction and project development services. Our goal is to develop the company further and to find cooperation partners, who will strengthen together with the experienced personnel and the management the company as a Russian-Finnish construction services provider.”

For further information:
Chairman of the Board,
Mr. Eero Makkonen,
tel. +358 400 684064

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