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HOCHTIEF Sells Project Services of Streif Baulogistik to Zeppelin - HOCHTIEF Solutions AG, Essen, is selling the major part of its subsidiary Streif Baulogistik GmbH to a subsidiary of the Zeppelin Group - HOCHTIEF.com
HOCHTIEF Sells Project Services of Streif Baulogistik to Zeppelin

 

NewswireToday - /newswire/ - Essen, Germany, 2014/03/11 - HOCHTIEF Solutions AG, Essen, is selling the major part of its subsidiary Streif Baulogistik GmbH to a subsidiary of the Zeppelin Group - HOCHTIEF.com.

   
 
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• Further concentration on the core business;
• Zeppelin Group takes over approximately 230 employees;
• HOCHTIEF expects small positive one-off gain;
• Closing of transaction expected Q2/2014.

The partners signed a contract for the acquisition of the "project service" business unit, which bundles construction-site logistics and security services. HOCHTIEF expects the transaction to result in a small positive one-off effect on earnings.

"With this sale, we are clearly making further progress in our strategy of concentrating on our core business," explained Marcelino Fernández Verdes, CEO of HOCHTIEF.

The Zeppelin Group is a dynamic provider of retail, engineering and customer services with 190 locations worldwide and five Strategic Business Units. With the acquisition of a major part of Streif Baulogistik the Business Unit Rental will take on approximately 230 employees. Zeppelin Rental intends to expand the integrated site and project management business. For Streif Baulogistik’s remaining business units, crane rental and formwork engineering, HOCHTIEF is currently considering its options.

The sale of Streif Baulogistik‘s project service business unit requires clearance from the merger control authorities. HOCHTIEF expects the closing of the transaction in the second quarter of 2014.

 
 
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Written by / Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Sells Project Services of Streif Baulogistik to Zeppelin

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HOCHTIEF AG | Zeppelin
Publisher Contact: Christian Gerhardus - HOCHTIEF.com 
+49 201 824-2642 christian.gerhardus[.]hochtief.de
 
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