EANS-News: BAUER Aktiengesellschaft BAUER Group contracted to execute part of
the foundation works for the Hong Kong-Zuhai-Macau bridge
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Company Information/Government Contracts
Hong Kong (euro adhoc) - In September BAUER Hong Kong Ltd., the local subsidiary
of BAUER Spezialtiefbau GmbH, was contracted to execute part of the extensive
foundation works for the Hong Kong-Zuhai-Macau bridge.
The mega-project is divided into two segments: one on the Chinese side, the
other on Hong Kong territory. BAUER Hong Kong Ltd. will be carrying out roughly
half of the foundation works over the first 9.4 kilometres through Hong Kong.
The contract is worth some EUR 65 million. Work is scheduled to start in
January 2013, and last until mid-2014.
On the project, most of which involves working offshore, Bauer will be
deploying four BG 40 drilling rigs. The foundation piles, in diameters of up to
2.5 metres, will have to be sunk into the sea bed down to depths of 90 metres
working from several drilling platforms.
Professor Thomas Bauer, Chairman of the Management Board of BAUER AG, comments:
"This highly challenging foundation contract is the largest offshore project in
the company's history. The Far East, and in particular Hong Kong, is a key
market for us. We have had a local presence for years based on our specialist
foundation engineering know-how, which is highly respected in the region."
The 30 kilometre long Hong Kong-Zuhai-Macau bridge will connect the seven
million people of Hong Kong with the smaller cities of Zuhai and Macau. It is
intended to boost tourism, and above all improve supply lines to the region.
The bridge will cut travel times from Hong Kong to Zuhai or Macau from three
hours to just half an hour.
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