EANS-News: BAUER Aktiengesellschaft
BAUER Group awarded contract to remediate
Center Hill Dam in USA
23.09.2011 – 08:29
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/Government Contracts Schrobenhausen (euro adhoc) - On September 21, 2011 the Construction segment of BAUER AG was awarded the contract to remediate the Center Hill Dam in Tennessee, USA. The contract was placed by the U.S. Army Corps of Engineers with local subsidiary BAUER Foundation Corp. following an extensive tender process. The specialist foundation engineering works involve installing approximately 29,000 square metres of underground cut-off wall and pressure grouting on the dam itself. "This contract award demonstrates the strength of our company in dam remediation," states Professor Thomas Bauer, Chairman of the Management Board of BAUER AG. The BAUER Group, a world technology leader in diaphragm wall construction, has thus added further to its portfolio of major projects. The contract has a total value of USD 106 million, and the project is scheduled to take around two years to complete. The Construction segment has previously demonstrated its expertise in the field by its remediation of the dyke on Lake Okeechobee in Florida. 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 of activity. 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). Further inquiry note: Bettina Erhart / Christopher Wolf Investor Relations Telefon: +49(0)8252 97 1918 E-Mail: investor.relations@bauer.de 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 mail: investor.relations@bauer.de WWW: http://www.bauer.de 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