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. Last Updated: 07/27/2016

Skanska Stays in Russia

Swedish construction giant Skanska denied a report in Thursday's Vedomosti that said the company was pulling out of Russia due to a lack of profitability.

Anders Göransson, president of Skanska in Russia, said the company had been shedding noncore assets to focus on residential and office construction. "That creates a lot of rumors," he said.

Skanska plans to sell its stone-crushing plant near Vyborg, in northwest Russia, later this year, G?ransson said.