BAUER Aktiengesellschaft

EANS-News: BAUER Aktiengesellschaft
BAUER Group sells TBA 300 deep drilling rig

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Schrobenhausen (euro adhoc) - The BAUER Group is pleased to report the sale of its firstdeep drilling rig type TBA 300. The rig developed and manufactured by Group company BAUER Maschinen GmbH has been bought by a Venezuelan oil-drilling company.

The Bauer TBA 300 is an electro-hydraulic drilling rig with a 300 tonne hook load capacity. It is designed for oil, gas and water exploration, as well as for deep geothermal energy extraction. "In developing the deep drilling rigs, we have applied our know-how in the manufacture of drilling rigs for specialist foundation engineering to the deep drilling sector," explains Professor Thomas Bauer, Chairman of the Management Board of BAUER AG. "The shortage of natural resources is one of the most urgent problems the world will face in the near future. Our deep drilling rigs will help meet that challenge, and at the same time they represent a new field of business for us."

This latest-generation deep drilling rig TBA 300, with its modular design and hydraulic components, features a kinematic control system which permits rapid erection and dismantling. The system also enables fast transfer of the large rig from one drilling point to the next.

Since its completion, the prototype of the TBA 300 has been subjected to extensive testing and has been modified specific to customer needs. The rig will be shipped in June so that it can be handed over to the customer in September and begin exploring for oil in the Orinoco region.

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 and related fields. 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 around three quarters of its total revenues outside of Germany. Employing some 9,100 people, the Group's total revenues in 2010 were EUR 1.30 billion (previous year: EUR 1.28 billion). 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
company:     BAUER Aktiengesellschaft
          BAUER-Straße  1
          D-86529 Schrobenhausen
phone:       +49 (0)8252-97-1918
FAX:         +49 (0)8252-97-2900
sector:      Construction & Property
ISIN:        DE0005168108
indexes:     SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
          Hamburg, Stuttgart, Düsseldorf, München
language: English 


Bettina Erhart / Christopher Wolf
Investor Relations
Telefon: +49(0)8252 97 1918

Branche: Construction & Property
ISIN: DE0005168108
WKN: 516810
Index: SDAX, 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

Weitere Meldungen: BAUER Aktiengesellschaft

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