. Support of the BAUER Resources segment . Expansion of business activities in the field of deep drilling technology for deep well- and exploration drilling . Acquisition of 60 percent of the Jordan market leader for exploration and well drilling
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Schrobenhausen (euro adhoc) - BAUER Aktiengesellschaft has come to a definite
agreement with the general owner of Site Group for Services and Well Drilling
Ltd. Co. ("SITE Group"), Rami Wahdan Oweis, to acquire 60 percent of SITE
Group's shares.
SITE Group operates high-capacity deep drilling rigs for the oil-and gas
industry, for well drilling and for the exploration of mineral deposits. The
medium-sized company, based in Amman, Jordan, takes in a good position in the
Middle East market and is very successful in the neighbouring regions.
Therefore, Bauer strengthens the business division Resources as a competence
centre for the whole deep drilling sector. For the future, Bauer will have
considerable synergy potentials in the whole group which will be represented by
both, the new deep drilling rigs TBA 300 and TBA 200 which are built by the
BAUER Equipment segment, and the high-capacity well drilling rigs of PRAKLA
Bohrtechnik GmbH.
Thomas Bauer, Chairman of the board of the BAUER Group, says: "Taking over SITE
Group, we will extend our service range in the field of deep drilling
technology and water wells. SITE Group shows long lasting customer relations in
the Jordan water industry. Furthermore, SITE Group has gained experience in
drilling for oil and gas over many years and has many worthy contacts to nearly
all world leading companies in the oil and gas sector. This strong market
position will relieve the market development for us as this will partly be a
new field of activity."
The profitable Jordan based group of companies achieved an annual turnover of
around EUR 20 million with about 190 employees in the past financial year. SITE
Group as well as its subsidiaries and branches are represented in Palestine and
in Yemen.
The parties agreed to keep contract details as well as the purchase price
confidential.
About Bauer
Bauer is a provider of services, machinery and ancillary products in the earth-
working and ground-water 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. 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 more than two thirds of its total
revenues outside of Germany. Employing some 8,600 people, the Group's total
revenues in 2008 were EUR 1.53 billion (previous year: EUR 1.2 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 Mestenhauser
Head of Investor Relations
Telefon: +49(0)8252 97 1918
E-Mail: investor.relations@bauer.de
end of announcement euro adhoc
--------------------------------------------------------------------------------
emitter: 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: Börse Frankfurt, free trade:
Börse Berlin, Börse Hamburg, Börse Stuttgart, Börse Düsseldorf,
Börse München
language: English
OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | CNE
