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Press release

PORR expands in Germany: takeover of Franki Grundbau signed.

PORR Deutschland expands foundation engineering. © PORR © PORR

Munich, 14 December 2016 – PORR Deutschland GmbH has taken over the longstanding, specialist civil engineering company Franki Grundbau GmbH & Co. KG, headquartered in Seevetal. PORR is thereby undertaking a targeted expansion of its service range in specialist civil engineering and the deal also underlines the growth strategy in Germany. Franki Grundbau will continue to operate under its own brand name as a wholly owned subsidiary of PORR Deutschland GmbH. The share purchase agreement was signed on 13 December. The takeover is likely to close, subject to the approval of the responsible competition authorities, in January 2017. 
 
“The acquisition of Franki Grundbau is a key strategic step for PORR in Germany. We are thereby consistently and sustainably strengthening our range as a full service provider” said Karl-Heinz Strauss, CEO of PORR. 
 
“With the acquisition of Franki Grundbau, we have managed to bring on board at PORR a company with an exceptional reputation. What’s more, Franki Grundbau brings with it a tried-and-tested product for the foundations of buildings. The close links to the product market segments we already offer will have a positive impact on the overall growth of PORR in Germany”, said Stephan Hebgen, Managing Director of PORR Deutschland GmbH. 
 
Harald Steltner, Managing Director of Franki Grundbau GmbH & Co. KG said: “We look forward to the cooperation with PORR. Two companies with a long history are joining together for future growth. We are certain that both companies will benefit from today’s strategic step”. 
 
With around 230 employees and a history dating back more than a century, Franki Grundbau GmbH & Co. KG is a leading specialist for excavation pits and pile foundations. In 2015 the company generated revenue in excess of EUR 60m. Franki operates in Germany, the Netherlands, Belgium, Austria and Poland and since 2002 it has been part of the Dutch construction company Heijmans NV, headquartered in Rosmalen. 
 
 
PORR Deutschland GmbH
PORR Deutschland GmbH is a full service provider active in every area of the construction industry. The service range includes building construction, traffic infrastructure and bridge construction, tunnelling and specialist civil engineering, power plant construction, hydraulic engineering, industrial construction and refurbishment, as well as environmental engineering and project development. In 2015, the PORR Group generated a construction output of EUR 634m in Germany, representing an increase of 7%. Order bookings rose by some 23%, while the order backlog was EUR 1,294m and thereby up by 4.7% year-on-year. In the medium term, PORR Deutschland GmbH is striving to generate construction output of at least EUR 1 bn in its core construction business. PORR Deutschland GmbH, with around 1,500 staff members, is part of the listed PORR AG, with a workforce of around 16,000 and production output of approx.
EUR 4 bn. Germany is the most important foreign market of PORR AG.

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