MAN Ferrostaal acquires plant builder in Portugal

26.03.2007 -

MAN Ferrostaal AG is strengthening its Projects Division (industrial plants). Today, the company signed an agreement to take over the Lisbon based plant builder, Koch de Portugal. The previous majority shareholder, along with two other owners, was Koch Transporttechnik in Saarbrücken. Both parties have agreed to keep the purchase price confidential.

Koch de Portugal, a company with 130 employees, specialises in planning and developing major industrial projects, concentrating on the construction of power plant systems within international consortia. In Germany too, Koch de Portugal has locations. Within MAN Ferrostaal, the company will assist with the future construction of power plants, petrochemical installations and facilities for bio-fuel production.

This acquisition will help MAN Ferrostaal to further expand its energy and fuel business. In doing so, the company will make use of both conventional and alternative technologies: building diesel, gas and steam power plants, solar-powered power stations, systems for petrochemical products and facilities for producing biofuels, which have the greatest potential for worldwide growth. In developing countries especially, where MAN Ferrostaal is well represented, the demand for electrical energy and fuels is growing fast.

"Koch de Portugal is an outstanding addition to our service portfolio," said Dr. Matthias Mitscherlich, the Chairman of the Board of MAN Ferrostaal AG and member of the Board of MAN AG. "The company is a recognised specialist in our industry, with staff who enjoy an excellent reputation. For us, this acquisition has come at precisely the right time, as we are currently working on a whole range of new projects, for which this new capacity will prove invaluable."

Against the background of bottlenecks on the labour market for power plant construction engineers, this acquisition is extremely valuable for MAN Ferrostaal. The know-how and experience of Koch de Portugal's employees will be applied directly to its ongoing business. 

Operations will focus in particular on the construction of solar powered power plants. Together with partners, MAN Ferrostaal is currently building its first plant in Almeria (Spain). This pilot plant, which is expected to begin operating in May of this year, uses the low cost Fresnel technology with flat mirrors. It should provide proof of the every day use of this specific technology. As regards future projects in the solar power plant sector, the company will now be able to rely on the support of Koch de Portugal.

MAN Ferrostaal AG, Essen, which employs 4,300 people and has a turnover of 1.4 billion euros (2006), is the industrial services provider of the MAN Group. With its "Projects" and "Services" divisions, MAN Ferrostaal serves customers in more than 60 countries around the world. MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN Group is one of the leading vehicle, engine and mechanical engineering corporations in Europe with an annual turnover of approximately 13 billion euros. MAN is a supplier of lorries, buses, diesel and turbo engines as well as industrial services and employs approximately 50,000 people worldwide. MAN's divisions hold leading positions in their markets and MAN AG, Munich, is one of the 30 leading German limited companies listed on the German DAX share index.

About MAN Ferrostaal AG:

MAN Ferrostaal is a worldwide supplier of industrial services for the construction of large-scale industrial plants and machine supply. As a general contractor for plant construction, the company offers project development, project management and financing solutions for turnkey plants in the areas of solar thermal power plants as well as biofuels, petrochemical and industrial plants. In ccoperation with manufacturers of machines and production lines, MAN Ferrostaal offers sales and services in the areas of automotive industries, print and packaging, piping, ships and transport solutions. With 4,200 employees MAN Ferrostaal is represented in more than 60 countries. The company achieved a turnover of EUR 1.4 billion in 2007.

MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN Group is one of Europe’s leading manufacturers of engineering equipment and vehicles, generating annual sales of around EUR 16 billion. MAN supplies products, systems and services to the capital goods industry and employs approx. 55,000 people worldwide. The core areas operated by the MAN Group, Commercial Vehicles, Industrial Services, Diesel Engines and Turbomachines, all hold leading positions in their markets. MAN is a member of the DAX German Share Index, Germany’s top 30 public limited companies.