Eurovia becomes a front-rank player in rail infrastructure
22 September 2008 - Acquisitions - United Kingdom
VINCI’s subsidiary Eurovia has completed its acquisition of Vossloh Infrastructure Services, following approval by the competent mergers and acquisitions authorities. Eurovia’s new subsidiary will take the name of ETF-Eurovia Travaux Ferroviaires.
ETF’s activities comprise the laying of new rail track, especially high speed rail links (LGV), renovation and maintenance of national railway networks and industrial sidings, installing and maintaining catenaries, and building and maintaining light rail and metro lines. Eurovia now possesses a complete array of competencies to play its part as a leading provider of sustainable mobility solutions.
Railways represent a major new growth opportunity for Eurovia, Europe’s leading road builder. Demand for new infrastructures and renovation of existing networks is expanding rapidly both in France and worldwide. The “Grenelle de l’Environnement” (the French Government-Civil Society environment roundtable in 2007) notably called for the construction of 2,000 km of new high-speed rail lines and 1,500 km of light rail systems in France. Additionally, the ageing network demands extensive renovation of existing conventional lines in order to renew track, ballast and catenaries. Finally, the high-speed lines built in the early-1970s now require maintenance for the first time.
This acquisition consolidates Eurovia’s position as a company working closely with its customers, with the capacity to undertake all types of construction, rehabilitation and maintenance operations on road and rail infrastructures.
With almost 1,600 employees, Vossloh Infrastructure Services generated 2007 pro forma revenue around €250 million, mainly in France (85%). The remainder was generated in other European countries (Germany and the Benelux), North Africa (Tunisia and Egypt) and Latin America (Venezuela).
Eurovia, a VINCI subsidiary, is a European leader in the construction and maintenance of road and rail transport infrastructures. With operations in 15 countries, the company has 39,000 employees and generated in 2007 a revenue of €7.7 billion.
VINCI is a global player in concessions and contracting, employing close to 195,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.