EANS-News: BAUER Aktiengesellschaft
BAUER Group commissioned to carry out
further section of Herbert Hoover Dike
Schrobenhausen / Odessa (Florida) (euro adhoc) -
Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Company Information
BAUER Foundation Corp., the local subsidiary of the BAUER Group, has been commissioned to carry out a further section of the rehabilitation of the Herbert Hoover Dike around Lake Okeechobee in Florida. The contract has a volume of about 40 million US dollars. It is estimated that the work needed will take approximately one and a half years.
The BAUER Group has been involved in the rehabilitation of the dike for about two years. The cutoff wall has already been rebuilt in several sections by the local Bauer subsidiary. It prevents the dike from internal erosion caused by seepage. The dike encloses the largest freshwater lake in Florida. The cutter soil mixing technique, which was developed by Bauer and has previously been successfully employed, will again be used in the forthcoming section.
"The award of this follow-up contract confirms our view about the opportunities arising for the BAUER Group from large-scale projects," says Prof. Thomas Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "Many infrastructure projects around the world cannot be put off any longer, and must be tackled now, despite the economic crisis - with or without the support of economical stimulus programs."
About Bauer
Bauer is a provider of services, machinery and ancillary products in the earth- working and groundwater fields. The Group markets its products and services all over the world. Its global spread allows it to remain largely unaffected by fluctuating business cycles.
The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work all over the world, developing foundation and excavation projects as well as providing related construction services. In its Equipment segment, in which it is the world market leader, Bauer offers an extensive range of machinery, equipment and tools for specialist foundation engineering. The Resources segment encompasses the Group's operations in the exploitation of raw materials, in environmental technology, in geothermal drilling operations and also in equipment for wells (including pumps and drills, screens and casings).
Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates more than two thirds of its total revenues outside of Germany. Employing nearly 8,900 people, the Group´s total revenues in 2009 were EUR 1.28 billion (previous year: EUR 1.53 million). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
end of announcement euro adhoc
Further inquiry note:
Bettina Erhart / Christopher Wolf
Investor Relations
Telefon: +49(0)8252 97 1918
E-Mail: investor.relations@bauer.de
Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: MDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade