- 18.05.2010, 14:01:14
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- OTE0005
EANS-News: BAUER Aktiengesellschaft / BAUER Group commissioned to carry out further section of Herbert Hoover Dike
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Schrobenhausen / Odessa (Florida) (euro adhoc) - BAUER Foundation Corp., the
local subsidiary of the BAUER Group, has been commissioned to carry out a
further section of the rehabilitation of the Herbert Hoover Dike around Lake
Okeechobee in Florida. The contract has a volume of about 40 million US dollars.
It is estimated that the work needed will take approximately one and a half
years.
The BAUER Group has been involved in the rehabilitation of the dike for about
two years. The cutoff wall has already been rebuilt in several sections by the
local Bauer subsidiary. It prevents the dike from internal erosion caused by
seepage. The dike encloses the largest freshwater lake in Florida. The cutter
soil mixing technique, which was developed by Bauer and has previously been
successfully employed, will again be used in the forthcoming section.
"The award of this follow-up contract confirms our view about the opportunities
arising for the BAUER Group from large-scale projects," says Prof. Thomas
Bauer, Chairman of the Management Board of BAUER Aktiengesellschaft. "Many
infrastructure projects around the world cannot be put off any longer, and must
be tackled now, despite the economic crisis - with or without the support of
economical stimulus programs."
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. 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 nearly 8,900 people, the Group´s total
revenues in 2009 were EUR 1.28 billion (previous year: EUR 1.53 million). 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
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issuer: 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: MDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English
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