Bilfinger Berger gets green light to acquire MCE
By Becca Wilkins21 December 2009
The European Commission has approved Bilfinger Berger's acquisition of industrial and power services provider MCE, a design, construction and maintenance company focussed on the process and energy sectors.
The deal is valued at € 350 million and will be finalised by the end of this year.
In order to win approval from the Commission Bilfinger Berger must comply with certain conditions and sell a small part of MCE's activities in piping systems. The activities in question account for 4% of MCE's annual turnover of about € 900 million.
MCE is based in Austria and Germany and the acquisition of the company will see Bilfinger Berger further expand its services business.
In a statement from Bilfinger Berger it said its services business has been a profitable growth area for years.
"In the coming year, more than +50% of the Group's output volume will be generated in services for the first time," the statement added.