Porr takes Bilfinger infrastructure business
11 June 2015
Porr Bau, a wholly-owned subsidiary of Austrian-based Porr, has agreed with Bilfinger to purchase Bilfinger Infrastructure, based in Poland.
In 2014, according to Porr, Bilfinger Infrastructure reported operating revenue of €166 million – of which around €32 million was in Norway – and turned a profit. The company employs around 800 staff and operates in the road and bridge construction sectors, civil engineering and power plant construction.
Porr said the acquisition meant a strategic completion of its activities in Poland, by extending in a sustainable way into the civil engineering business. It claimed that in 2014, Porr generated construction output of around €300 million in Poland.
The purchase price is said to be €21.5 million, and Porr said part of the purchase price would be settled by assuming Bilfinger’s obligations to Bilfinger Infrastructure. It added that the acquisition was subject to approval by antitrust and competition authorities.
Bilfinger said it was focusing on engineering and services for industrial facilities, power plants and real estate, and that it had initiated the disposal of its civil engineering activities last year.
Joachim Enenkel, member of the executive board at Bilfinger, said, “We are very pleased that, along with the construction division, we have now also been able to sell our infrastructure division to a renowned European construction company. The companies and their employees have very good prospects for the future in their new environments.