The agreements to transfer all of the shares in the Hinteregger Group to Porr were signed. This transaction will allow Porr to expand its market position in underground construction and civil engineering.
The focus of Hinteregger – a Salzburg company with a tradition dating back over a hundred years – lies in industrial civil engineering, power plant construction and underground construction. The group currently employs a workforce of approximately 890 people; its production output last year was around EUR 220m.
“Hinteregger’s portfolio and experience are an ideal fit for Porr”, said Karl-Heinz Strauss, CEO of PORR. “Hinteregger can look back on an impressive track record of over 480 km of gallery, road and rail tunnels. In addition, the company has contributed to building 49 run-of-river and high-alpine power plants. It was clear to us right from the start that we will retain Hinteregger as an established brand and that it should become an independent part of Porr. With the bundled expertise of the two companies, we will be able to offer our customers an even more comprehensive service range in domestic underground construction.”
Closing of the transaction is subject to further conditions, especially approval by the relevant competition authorities.
Source: Porr AG
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