Keller expands in Egypt

Keller Group, the global ground engineering business, has strengthened its position in Egypt with the purchase of Genco for £1.9 million.

Keller has agreed a further £700,000 deferred payment based on Genco's profits in the year to 31 December 1999.

The Egyptian acquisition comprises of two businesses: Geotechnical Engineering Contractors and the Construction Requirement Company.

Last year, Genco's turnover of £2 million produced a pre-tax profit of £200,000.

Tom Dobson, chief executive of Keller, said this week: "We stated at the time of our interim results in August that we hoped to make further bolt-on acquisitions in the US and the Middle East. We have now achieved this. The Middle East, and in particular Egypt, is an exciting growth market for Keller's specialist services."