VINCI continues its international expansion with the acquisition of the HEB Construction company in New Zealand
25 June 2015 - 5:45 pm - Acquisitions - New-Zealand
VINCI has just finalised the acquisition of the HEB Construction company in New Zealand.
Founded more than 40 years ago, HEB Construction is a leader in the New Zealand construction market. The company offers a broad array of expertise in civil engineering, engineering structures, hydraulic engineering, roadworks, earthworks, marine and port works, pre-casting and transport. The company employs 750 people and generated revenue of about €230 million in 2014.
With this acquisition, VINCI confirms its strategy of expanding in the high-growth international markets. New Zealand’s GDP increased by more than 3% in 2014 and the country’s construction and infrastructure sectors hold out prospects for steady growth.
“HEB Construction’s fundamentals form an excellent fit with those of VINCI and its new projects reflect its vitality. One good example is the new contract notification in April of this year to build a 27 km four-lane urban motorway in Wellington. The project, in which HEB is participating as a member of a joint venture, has a value of more than €500 million and is one of the island’s largest current infrastructure projects.”, says Philippe Chavent, Chairman of VINCI Construction International Network*.
*VINCI Construction International Network was set up in 2014 as a network of local subsidiaries with permanent locations to support VINCI Construction’s international expansion. VINCI Construction International Network currently has locations in Africa (via its subsidiary Sogea-Satom, which operates in more than 20 African countries), Overseas France (French West Indies, French Guiana, Reunion Island, Mayotte, New Caledonia) and Central Europe (Poland, Czech Republic, Slovakia). VINCI Construction International Network employs 16,000 people and generated revenue of €2,150 million in 2014.
VINCI is a global player in concessions and contracting, employing close to 211,000 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.