The 30 employees of the company will be offered jobs in other parts of the country.
"If they don't accept jobs in other parts of the country, they will be out in the market," he tells GlobeSt.com. Indeed, he is one of the people who will be seeking employment in Colorado.
"Do you have any want ad signs?" he jokes.
The company is part of the Sweden-based Skanska AB.
"We're about the 30th largest general contractor in Colorado," Meggison tells GlobeSt.com.
Skanska USA will finish local projects under contract. That includes a facility in Fort Collins for the Centers for Disease Control and Prevention, a K-8 school and recreation center in the Green Valley Ranch and a Young American Bank in Lakewood.
The company has built such high-profile projects in the metro area as the Cherry Creek shopping center, the Denver Central Library, the Golden Main Post Office & Distribution Center and Horizon Senior High School in Thornton.
Skanska's most recent annual report blames big drops in sales and operating income at Skanska USA on "fixed-price" contracts with very tight profit margins largely stemming from publicly-funded projects.
Nationally, Skanska USA generated $3.9 billion in net sales in 2003, a 29% drop from 2002. The division's operating income also fell from about $70 million in 2002 to $1.43 million last year, and new jobs fell 9%.
In 1999, Skanska bought the A.J. Etkin Construction Co. in Denver.
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