EANS-News: BAUER Aktiengesellschaft BAUER Group again provides foundations for
world's tallest building in Saudi Arabia
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Company Information/Government Contracts
Jeddah (euro adhoc) - In October Saudi BAUER Foundation Contractors Ltd. - a
subsidiary of BAUER Spezialtiefbau GmbH - has signed the contract for the
enabling works required for the Kingdom Tower in the northern district of the
Saudi Arabian city of Jeddah. The Kingdom Tower will succeed the Burj Khalifa -
also founded on Bauer piles - as the tallest building in the world. At 1,001
metres, it will be the first skyscraper to break through the kilometre mark.
Professor Thomas Bauer, Chairman of the Management Board of BAUER AG, comments:
"This contract demonstrates clients' confidence in our ability to handle large,
complex specialist foundation engineering projects. It is great for us to be
working on this building."
The enabling works include 270 bored piles of 1.5 and 1.8 metre diameters,
which have to be installed into the difficult ground conditions down to depths
of 110 metres in order to provide the building's foundations. This challenging
task is being carried out using two each of Bauer's state-of-the-art BG 28 and
BG 40 pile drilling rigs.
The foundation works are scheduled to begin before the end of December and take
about ten months. The contract is worth approximately EUR 25 million.
About Bauer
Bauer is a provider of services, machinery and ancillary products for ground
and groundwater. The Group markets its products and services all over the
world. Its global spread allows it to remain largely unaffected by fluctuating
business cycles.
Its business is 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
and related fields. 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 around three quarters of its total
revenues outside of Germany. Employing some 9,100 people, the Group's total
revenues in 2010 were EUR 1.30 billion (previous year: EUR 1.28 billion). BAUER
Aktiengesellschaft has been listed on the official market of the Frankfurt
Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
You can also visit us on YouTube: http://www.youtube.com/BAUERGruppe
Further inquiry note:
Christopher Wolf
Investor Relations
Tel.: +49 8252 97 1797
E-Mail: christopher.wolf@bauer.de
end of announcement euro adhoc
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company: BAUER Aktiengesellschaft
BAUER-Straße 1
D-86529 Schrobenhausen
phone: +49 (0)8252-97-1797
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: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English