SPIE (EPA:SPIE) - SPIE - Press Release - SPIE announces the sale of its German construction and gas technology activities
Transparency directive : regulatory news
04/11/2019 08:00
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Press ReleaseSPIE announces the sale of its German construction and gas technology
activities
Completion of the former SAG Gas & Offshore division disposal plan
Cergy, November 4th, 2019 - SPIE, the independent European leader in
multi-technical services in the areas of energy and communications, has
announced today that it has signed an agreement with Friedrich Vorwerk KG GmbH
& Co. (''Vorwerk'') for the sale of its construction and gas technology
activities in Germany.
These activities primarily consist in pipeline and underground power lines
construction, and constitute the remaining part of the former Gas & Offshore
division, acquired with SAG in 2017. Coming after the sale of German nearshore
cabling activities in April 2019, this transaction marks SPIE's full exit from
the Gas and Offshore division of SAG, as planned and announced, in line with
its strategic focus on its core business of small, recurring, low-risk
multi-technical services contracts.
Vorwerk is a civil engineering and plant construction specialist for
underground gas, oil and power lines. Vorwerk is controlled by
Frankfurt-listed, family-owned business MBB SE.
Completion of the transaction is subject to the satisfaction of customary
conditions and is expected to occur before year-end.
About SPIE
As the independent European leader in multi-technical services in the areas of
energy and communications, SPIE supports its customers to design, build,
operate and maintain energy-efficient and environmentally-friendly
facilities.
With more than 46,400 employees and a strong local presence, SPIE achieved in
2018 consolidated revenues of EUR6.7 billion and consolidated EBITA of EUR400
million.
Press contacts
SPIE
Pascal Omnès
Group Communications Director
Tel. + 33 (0)1 34 41 81 11
pascal.omnes@spie.com
SPIE
Thomas Guillois
Investor Relations Director
Tel. + 33 (0)1 34 41 80 72
thomas.guillois@spie.com
Agence Droit Devant
Philippe Hériard
Press Relations Consultant
Tel. + 33 (0)1 39 53 53 33
heriard@droitdevant.fr
www.spie.com
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