Strabag acquires Brunner Erben and Astrada, becomes third-largest construction company in Switzerland

Strabag SE, Central and Eastern Europe’s largest construction company, acquired two of Switzerland’s established companies, Brunner Erben Holding AG, Zurich, and Astrada AG, Subingen (Solothurn). The financial details of the transaction were however not disclosed.

Hans Peter Haselsteiner, Strabag SE CEO, said the acquisitions illustrate the firm’s strong commitment to the Swiss market and its determination to be a leading player in each of its key countries. The acquisitions will enable Strabag nearly double its output volume in Switzerland, as well as enhancing the firm’s presence in Zurich and Bern, said Haselsteiner.

According to Haselsteiner, Zurich and Bern are very important regional markets. He further reiterated that in 2011, Strabag expects to generate combined annual revenues in Switzerland of about € 615 million and therewith become the third-largest construction company in the country. Strabag has embarked on a strategy to expand its market presence from this level in order to operate nationally across all of Switzerland, said Haselsteiner.

With combined revenue of around € 245 million and a wide geographical presence, the simultaneous acquisition of Brunner Erben and Astrada marks a highly attractive opportunity to improve Strabag’s strategic position on the Swiss market. Both companies have a long-standing tradition in their respective regions and have a combined workforce of around 1,000 well-trained employees, stated a press release.

Brunner Erben is a construction company with a regional focus in Zurich and eastern Switzerland and offices in Zurich, Kreuzlingen and St. Gallen. The company is active on the Swiss market in the fields of civil engineering (special foundation engineering and road construction), building construction (including wood building) and transport and has smaller investments in the fields of construction materials.

The company generates an output volume of about € 160 million. The around 700 employees will continue their work within the Strabag Group. The Brunner Erben brand name and offices will remain.

Astrada’s regional focus is on the cantons of Solothurn and Bern. The company maintains six offices and is active with about 350 employees in the fields of road and ground-level construction, railway and civil engineering, and industrial and residential construction. Astrada’s output volume amounts to about € 85 million. Strabag will also take on all employees from Astrada and maintain the brand name.

Strabag SE is one of Europe’s leading construction groups. With some 73,600 employees, Strabag generated a construction output volume of € 12.8 billion in the 2010 financial year.

12th March 2011

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