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Vienna, 7 October 2008 STRABAG SE, the largest construction group in Central and Eastern Europe, is pleased to announce it received approval by the cartel authorities for its majority stake in German construction firm Kirchner Holding GmbH on 29 September 2008. STRABAG SE will consolidate the investment in full already in the third quarter 2008.
STRABAG SE had announced its intention of acquiring a stake in Kirchner in April of this year. The leading construction SME, active mainly in the infrastructure construction segment, generated a construction output volume of € 373.4 million and employed 1,500 persons in 2007.
Kirchner perfectly complements STRABAG SE’s business activities in Germany. Furthermore, its presence in the field of road construction in Poland represents an important addition to the capacities for STRABAG’s current activities on this rapidly growing market. Kirchner’s many technological innovations will be used throughout the group in order to expand the position as technology leader.
For the Kirchner Group, membership in the group means new opportunities for growth and development. The company will continue to operate centrally from its traditional headquarters in Bad Hersfeld. The independence of the company and the KIRCHNER brand will be maintained.
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STRABAG SE is one of Europe’s leading construction groups. With about 66,000 employees, STRABAG expects to generate a construction output volume of € 13.4 billion in the 2008 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 on the Arabian Peninsula. STRABAG’s activities span the entire construction industry (Building Construction and Civil Engineering, Transportation Infrastructures, Tunnelling) and cover the entire value-added chain in the field of construction. More information is available at www.strabag.com
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