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Current 2008

München, 2/19/2008

New market leader in Scandinavia

Munich/Oslo, 19 February 2008. “These major acquisitions mark a further step in our efforts to expand in the lucrative and growing markets of Northern Europe. The two companies’ services are an ideal match for our existing portfolio. As a result, Bilfinger Berger Industrial Services AG has become the market leader in Scandinavia,” says Thomas Töpfer, CEO of BIS AG. With around 2,200 employees in Norway, Sweden and Germany, the two companies posted total revenues of a joint EUR 250 million or so in 2007.

BIS AG’s Scandinavian business to double in size
With this strategic takeover, BIS AG’s business volumes in Scandinavia will widen considerably. In fact, total revenues in Northern Europe will more than double in size, coming close to half a billion euros in the future, while the number of employees will be rising to around 3,600.  “We will be continuing our growth trajectory and, on this basis, are planning to additionally extend our activities for the process industry as well as the oil and gas sector,” explains Thomas Töpfer. BIS AG has already been active in Scandinavia as a technically oriented industrial services company for 30 years, during which time it has steadily broadened its market presence. “We have earned a very good reputation not only through our involvement in large-scale projects such as Ormen Lange but also thanks to our day-to-day activities, which are characterised by a high degree of technical expertise and economic efficiency,” he adds, explaining the current situation.

After being spun off from Norsk Hydro ASA in 2006, HPP and PT have built up strong positions for themselves in the Scandinavian market for industrial services. With seven facilities in Norway and a branch in Sweden as well as in Germany, they have long-standing service contracts with numerous renowned industrial customers on their books. There will be no change to this existing successful business following the acquisition by BIS AG.

Customers benefiting from broader portfolio
“With the addition of the specialist skills held by HPP and PT particularly in mechanics, process instrumentation and end-to-end maintenance services, our customers will have access to a full range of industrial services,” says Thomas Töpfer. In fact, he expects these additions to the range of services as well as the pooling of complementing activities to generate additional growth on the part of existing customers. In this way, it will be possible to reinforce and additionally extend lucrative main contracting business. In addition, BIS will be able to attract new customers.

BIS AG is already active in Scandinavia via its subsidiaries BIS Industrier AS in Norway and BIS Industrial Services Sweden AB in Sweden. With prime customers in the chemicals/ petrochemicals, pulp/paper, steel and energy industries, the two subsidiaries offer a full range of industrial services.

The sale is still subject to approval by the relevant anti-trust authorities.