Acquisition enables STRABAG`s final entry into the Italian market
Adanti SpA with revenues of € 160m in 2007, 370 employees
Vienna, 4 February 2008. STRABAG SE acquired 100 % of the construction company Adanti SpA, situated in Bologna, Italy. Selling party is S.E.C.I., group Maccaferri`s holding company.
The ownership change exhibits an enormous growth and development potential for Adanti SpA: STRABAG plans to position Adanti SpA as one of the leading construction companies in the Italian market in the medium term. The company operates in all segments in Italy and has specific know-how in tunnelling. In 2007 Adanti SpA generated revenues of € 160 million and employs 120 white-collar and 250 blue-collar workers.
At the moment the company is finishing two large projects: the connection between SS527 (Bustese) and SS11 (Padana Superiore) in the province of Milan and the extension of a section of the railroad Cagliari – Golfo Aranci in Sardinia. Both projects have a volume of € 135 million each. Adanti`s shares in the projects are 60 % and 50 % respectively.
The construction sector is one of Italy`s most dynamically growing economic sectors and posted a growth of 6.5 % to € 146 billion in 2006. Between 1998 and 2006 the construction sector showed a growth of more than 25 % compared to an overall economic growth of only 11.3 % (Deloitte, European Powers of Construction Survey 2007).
Hans Peter Haselsteiner, CEO of STRABAG SE: “Adanti fits into the group excellently. Its high technological competence and market position gives us the opportunity to develop our business in Italy in all segments. Backed by our corporate structure we want to make Adanti to one of the leading construction companies in Italy in the medium term.”
STRABAG SE is one of Europe’s leading construction groups. With nearly 60,000 employees, STRABAG expects to post revenue from construction work of around EUR 11 billion in the financial year 2007. 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.