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Bilfinger Berger makes big gain from Buderus
08:55 25 Jun 2003
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Bilfinger Berger, the German construction group, has made a
tax-free capital gain of £160m on the sale of its 30% stake in
heating product manufacturer Buderus.
The funds strengthen its potential for boosting its construction presence in this country. Bilfinger is in the running to acquire Ballast UK.
Bilfinger's global turnover in the first quarter of 2003 jumped 21% to £800m. The resulting loss of £3.5m is not expected to impact on the full year's performance. Bilfinger made a profit of £42m in the last full financial year and it says that it is on track to go higher this time.
The group's turnover is now divided into five business streams: civils; building/industrial; project development/concessions; services; and environmental. Its orderbook stands at a record figure of £3.8bn.
The funds strengthen its potential for boosting its construction presence in this country. Bilfinger is in the running to acquire Ballast UK.
Bilfinger's global turnover in the first quarter of 2003 jumped 21% to £800m. The resulting loss of £3.5m is not expected to impact on the full year's performance. Bilfinger made a profit of £42m in the last full financial year and it says that it is on track to go higher this time.
The group's turnover is now divided into five business streams: civils; building/industrial; project development/concessions; services; and environmental. Its orderbook stands at a record figure of £3.8bn.
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