The project services business unit that is being sold brings together construction-site logistics and security services.
"With this sale, we are clearly making further progress in our strategy of concentrating on our core business," explained Hochtief CEO Marcelino Fernández Verdes. The transaction is expected to result in a small positive one-off effect on Hochtief’s earnings.
Hochtief is currently considering its options for Streif Baulogistik’s remaining business units, which cover crane rental and formwork engineering.
The Zeppelin Group’s rental business unit will take on about 230 employees with the acquisition of the major part of Streif Baulogistik. Zeppelin Rental intends to expand its integrated site and project management business.
The sale of Streif Baulogistik‘s project service business unit requires clearance from the merger control authorities. Hochtief expects to close the transaction in the second quarter of 2014.
Zeppelin employs some 7,600 people at 190 locations in 26 countries around the world. The group is divided into five strategic business units. Its rental division provides customised equipment hire for construction machines as well as equipment such temporary fencing.
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