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Sat June 22 2024

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Skanska to buy Finnish contractor

12 Oct 11 Skanska Finland has signed an agreement to buy all the shares of Finnish construction company Soraset.

Soraset is a civil contractor working mainly on infrastructure projects. It has about 270 employees and last year the net revenue was approximately €100m(£87m). Its operates across the whole of Finland and its headquarters are in Kangasala, in the Tampere region.

”Soraset has a very good reputation in Finland and will complement Skanska’s civil business in an excellent way, geographically as well as operationally. The acquisition will also make us stronger and more competitive on the major infrastructure projects,” said Skanska Finland business unit president Juha Hetemäki.

”Operations of Soraset has grown and become more versatile during the past ten years,” said technical director Petri Uitus, one of the main owners of Soraset. “At this moment we consider that the best solution for Soraset is to join a strong global company.”

The acquisition requires regulatory approvals from the Finnish competition authorities.

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