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HOCHTIEF Strong Incoming Orders Continue in First Quarter of 2012 - HOCHTIEF has maintained its momentum from the fourth quarter of 2011 in the new year: following yesterday’s billion-dollar contract from Australia, the Group is today announcing three further major orders with a volume of almost EUR 600 million
HOCHTIEF Strong Incoming Orders Continue in First Quarter of 2012

 

PRZOOM - /newswire/ - Essen, Germany, 2012/02/08 - HOCHTIEF has maintained its momentum from the fourth quarter of 2011 in the new year: following yesterday’s billion-dollar contract from Australia, the Group is today announcing three further major orders with a volume of almost EUR 600 million.

   
 
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• Following yesterday‘s billion-dollar contract: further new orders for almost EUR 600 million from the USA and Australia;
• Projects all generated by the Group‘s new strategic growth areas;
• CEO Stieler: "We are growing in areas where good returns can be achieved".

This serves to demonstrate HOCHTIEF’s continued operational strength. All three projects are in the Group’s new strategic growth areas: in Australia, the subsidiary Leighton is to construct processing plants and an off-coast breakwater for various gas projects, while the US subsidiary Flatiron is to implement a major road construction project for the Washington State Department of Transportation. "We are growing in areas where good returns can be achieved," says Dr. Frank Stieler, CEO of HOCHTIEF, commenting on the orders. Since 2011, the Group has focused increasingly on the three growth areas of sustainable energy infrastructure, transport infrastructure and metropolises.

The Leighton subsidiary Thiess will construct several gas processing plants for a gas project of the mineral group QGC in the Australian state of Queensland: some 30 kilometers north-west of the town of Dalby, six decentralized compression stations and a centralized compactor plant will be constructed by April 2013. These stations will compress the extracted gas in order to allow it to be transported to Gladstone via underground pipelines. QGC will then convert the raw material into liquid gas. Work on the project, which has a value of around EUR 266.3 million (AUD 325 million), will begin this month.

Off the north-western coast of Australia near the town of Onslow, Thiess will plan and build a new breakwater for Chevron’s Wheatstone gas project in a joint venture (50% stake). Work is set to begin during 2012. This contract has a volume of around EUR 209 million (AUD 260 million). Thiess’s share is approximately EUR 104.5 million (AUD 130 million). The breakwater is not the first project that the Leighton subsidiary has carried out for Chevron: Thiess received several orders in connection with the Gorgon offshore gas project in 2011 and is also building a tunnel for Wheatstone which will link the undersea gas storage facilities with the liquefaction plant.

In the USA, Flatiron secured a contract for the extension of Interstate 405 (Washington State) to a total length of 405 kilometers. The company will perform planning, construction and expansion work for the project. Flatiron will begin work in summer 2012, and the project is expected to be completed in 2015. The order volume is around EUR 118 million (USD 155.5 million).

 
 
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Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF Strong Incoming Orders Continue in First Quarter of 2012

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HOCHTIEF AG |
Contact: Christian Gerhardus - HOCHTIEF.de 
presse[.]hochtief.de
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

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