Articles of association for new holding STRABAG.UKRAINE signed
Equal stakes for all three companies
Kiev, 5 December 2007 – Today shareholders signed the articles of association of the new multiline construction holding STRABAG.UKRAINE in Kiev. STRABAG.UKRAINE is a joint project between STRABAG SE (Austria), Group Basic Element (Russia) and DCH Group (Development Construction Holding, Ukraine), each holding equal stakes in the company. In the first phase the company expects to employ just under 1,000 people.
The articles of association were signed by:
Hans Peter Haselsteiner – СЕО of STRABAG SE
Oleg Deripaska – Chairman of Basic Element’s Supervisory Board
Alexander Yaroslavskiy – DCH Group President.
STRABAG.UKRAINE will specialize in large orders, especially for the construction of transport infrastructure objects, bridges, tunnels and roads and commercial and residential property. STRABAG.UKRAINE will also build new cement works and invest in the production of aggregates, gravel, sand and crushed aggregate. The holding is expected to start work and appoint its manager at the beginning of next year.
Commenting on the event, Hans Peter Haselsteiner noted: “Over 11 % of our orders at STRABAG SE come from Russia. Ukraine, Russia and other markets in the region are very dynamic and promising, and we have large hopes for our future there.”
At the signing ceremony, Oleg Deripaska said: “Success on the Ukrainian market is achieved by those companies which have modern technologies, experience working under the local conditions and support from their partners. I am convinced that our partnership with DCH and STRABAG will allow us to gain a strong position on the Ukrainian construction market.”
As Alexander Yaroslavskiy emphasized: “The development of Ukraine’s infrastructure, such as transport, communications and public buildings etc., requires modern European technologies and experience in their practical application. The professionals at STRABAG SE built most of the complex transport objects in Europe, as well as many buildings with interesting architectural solutions in Austria and Russia. The knowledge of our Austrian partners, as well as the huge potential of Basic Element, will therefore be invaluable to us.”
The management of all three companies whose financial, organizational and intellectual resources form the basis for the creation of STRABAG.UKRAINE, confirmed that the holding’s potential was sufficient to make it one of the leaders on the Ukrainian construction market in the near future.
STRABAG SE is one of Europe’s leading construction groups. With nearly 60,000 employees, STRABAG expects to post revenue of around EUR 11 billion in the ongoing financial year. From its core markets of Austria and Germany, STRABAG is present via its numerous subsidiaries in all countries of Eastern and South-East Europe, in selected markets in Western Europe and the Arabian Peninsula, as well as in Canada, Chile and India. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Road Construction, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com.