EANS-News: BAUER Aktiengesellschaft BAUER Group awarded contract to remediate
Center Hill Dam in USA
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Company Information/Government Contracts
Schrobenhausen (euro adhoc) - On September 21, 2011 the Construction segment of
BAUER AG was awarded the contract to remediate the Center Hill Dam in Tennessee,
USA. The contract was placed by the U.S. Army Corps of Engineers with local
subsidiary BAUER Foundation Corp. following an extensive tender process. The
specialist foundation engineering works involve installing approximately 29,000
square metres of underground cut-off wall and pressure grouting on the dam
itself.
"This contract award demonstrates the strength of our company in dam
remediation," states Professor Thomas Bauer, Chairman of the Management Board
of BAUER AG.
The BAUER Group, a world technology leader in diaphragm wall construction, has
thus added further to its portfolio of major projects. The contract has a total
value of USD 106 million, and the project is scheduled to take around two years
to complete. The Construction segment has previously demonstrated its expertise
in the field by its remediation of the dyke on Lake Okeechobee in Florida.
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 and related fields of activity. 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).
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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company: 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: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, München
language: English