The German multi-service corporation Bilfinger Berger and the Finnish Are Group have signed an agreement concerning Bilfinger Berger acquiring Are’s industrial services business.
Th deal requires the approval of the competition authorities.
Are Groups Industrial Services unit, which specializes in electrical and automation technology, employs 230 people and has an annual output volume of €25 million. Are Oy is disposing of its successful industrial services business in order to focus on its core competence, property services, in future. The two parties have agreed not to disclose details of the purchase price.
Are Oy Industrial Services serves major Finnish industrial clients such as Ruukki, Neste Oil and Borealis, with 70 percent of the business coming from ongoing maintenance of production facilities. The company is an excellent supplement to the existing piping and mechanical engineering activities of Bilfinger Berger Industrial Services in Finland. In addition, new customer contacts make cross-selling effects possible.
Bilfinger Berger is one of the largest service providers in the Scandinavian process industry. With over 4,000 employees, the Group provides its clients with comprehensive services for the maintenance, repair and modernization of production facilities. The annual volume of the Industrial Services business segment in the region amounts to over €500 million.
Source: Are Group, Bilfinger Berger
