STRABAG parts with its flue gas treatment business
Asset sale to Yara International of Norway
Annual output volume of € 25 million, 70 employees
Strategy: Focus on core business of construction and construction-related services
Vienna, 2 June 2014 The publicly listed construction group STRABAG SE today, Monday, announced its plans to withdraw from the flue gas treatment business. Until the end of August 2014, the assets in its subsidiary STRABAG Energy Technologies GmbH, Vienna, are to be sold to international industrial group Yara International ASA based in Oslo.
STRABAG’s flue gas treatment business, with some 70 employees, generated an annual output volume of about € 25 million, primarily in Germany, the Czech Republic, Poland, the Middle East and Taiwan. The parties to the transaction have agreed not to disclose details of the purchase price.
“The sale of our flue gas treatment activities to Yara confirms our strategy to concentrate on our core business of construction and construction-related services. Our future cooperation with Yara also ensures that we can continue to offer our clients the best combination of technology and construction expertise,” says Thomas Birtel, CEO of STRABAG SE.
“This transaction consolidates our position as a globally leading company in the field of emission-to-air treatment at industrial and maritime facilities. At the same time, we expect the transaction to lead to closer cooperation with STRABAG in the field of industrial construction,” says Yves Bonte, Senior Vice President and Head of Yara’s Industrial Segment.
The transaction is still pending approval by the Austrian competition authorities.
STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our services span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by our specialised entities integrating the most diverse services and assuming responsibility for them. We bring together people, materials and machines at the right place and at the right time in order to realise even the most complex construction projects – on schedule, of the highest quality and at the best price. The hard work and dedication of our more than 73,000 employees allows us to generate an annual output volume of about € 14 billion. At the same time, a dense network of numerous subsidiaries in many European countries and, increasingly, on other continents is helping to expand our area of operation far beyond the borders of Austria and Germany. More information is available at www.strabag.com.
Yara delivers solutions for sustainable agriculture and the environment. Our industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Safety is always our top priority.
