Balfour Beatty kauft Schreck Mieves

[Marr 1]

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http://www.hemscott.com/news/static/rna/it...=65115999192797
20 June 2008


BALFOUR BEATTY ACQUIRES SCHRECK-MIEVES, THE GERMAN
RAIL ENGINEERING GROUP, FOR EUR36 MILLION

Balfour Beatty, the international engineering, construction, services and
investment group, announces today that it has acquired Schreck-Mieves GmbH, the
German rail engineering group, for a cash consideration of EUR36 million.
Schreck-Mieves is a
leader in the German trackwork market and also manufactures key rail components
and systems and supplies specialist plant and equipment.

Commenting on the acquisition, Balfour Beatty Chief Executive Ian Tyler said:

'Balfour Beatty is already a major player in the German rail market with a
leading position in electrification and power supply as well as significant
capabilities in planning, logistics and signalling. Schreck-Mieves has a strong,
established
position in the trackwork market, which accounts for the majority of German rail
infrastructure spending, and enhances further our ability to deliver major,
multi-disciplinary projects.'

Schreck-Mieves supplies trackwork to the German mainline rail industry (Deutsche
Bahn), and the mass transit and industrial markets through three divisions in
the West, Central and East of Germany. It also has operations in Holland and
Russia. Rail
components and systems are manufactured at facilities in Dortmund and
Braunschweig.

Schreck-Mieves had 2007 sales of EUR118 million, operating profits of EUR3.3
million and net assets of EUR17 million. Profits were held back by
under-performance in the systems and components business, which will be
addressed post acquisition.

Growing market opportunity should see Schreck-Mieves add volume through market
share growth and geographical expansion within Germany. The acquisition is
conditional upon the customary competition clearance.

ENDS

Enquiries to: Tim Sharp
Tel: +44 (0)20 7216 6884
www.balfourbeatty.com


Notes to Editors

1. Balfour Beatty Rail Power Systems, based in Germany, is an international and
domestic leader in railway power supply systems and electrification. In 2007 it
had revenues of EUR480 million. Amongst its major recent projects have been the
electrification of the approved tunnel and mainline station in Berlin,
electrification of the Ingolstadt to Nuremberg line, the Metro do Porto
extension in Portugal and the high-speed electrification of the Milan-Turin line
in Italy.

2. Balfour Beatty Rail Power Systems was recently awarded the rail systems work
for the new Gotthard Base in Switzerland in a contract likely to be worth
approximately £200 million.

3. Balfour Beatty Rail is an international leader in the design, construction,
equipping, maintenance and management of rail assets and systems with annual
sales of approximately £785 million in 2007 and £770 million in 2006. It is a
major
trackwork contractor and one of the largest manufacturers of track systems and
products in Europe.

4. Balfour Beatty is a world-class engineering, construction, services and
investment business, well-positioned in infrastructure markets which offer
significant long-term growth. We work in partnership with sophisticated
customers who value the
highest levels of quality, safety and technical expertise. Our skills are
applied in appropriate combinations to meet individual customer needs.


This information is provided by RNS
The company news service from the London Stock Exchange