Skanska Sells Pharmaceutical Group to U.K.-based SPGL

Press release 8/13/2008 4:03 PM EST

Skanska USA Building Inc. announced today that it has sold Skanska Pharmaceutical Group Limited based in the U.K. to SPGL Limited. The group was acquired, through an asset sale, by its current management. The sale is a result of the restructuring of Skanska’s pharmaceutical group to be more closely aligned with Skanska USA Building's core business and strategic direction. Terms of the sale were not disclosed. The purchase of Skanska Pharmaceutical Group Limited by SPGL ensures the continuity of the company’s strategies and performance to employees and clients. SPGL will continue to offer commissioning, qualification, validation and other professional technical services to the biotech, pharmaceutical, healthcare and mission critical market sectors. SPGL will also continue to be led by Jay Lad, the existing group director, who will assume the role of Managing Director for SPGL.