COMPANY NEWS Alpine BeMo Tunnelling sold to Metrostav30 Jul 2013
Shani Wallis, TunnelTalk
As part of the insolvency liquidation of the Alpine Bau group of Austria, the administrators have agreed the sale of the Alpine BeMo Tunnelling GmbH subsidiary to Metrostav of the Czech Republic.
Formerly known as Beton - und Monierbau GmbH and based in Innsbruck, Austria, the sale BeMo is pending approval of the bankrupt Alpine Bau creditors and the insolvency court, and must also clear the Czech, Austrian and German competition authorities. The purchase price and financial details of the sale have not been disclosed.
Metrostav is a leading construction company in the Czech market and hopes to gain easier access to Western markets through its acquisition of BeMo. "The company will be our daughter and will continue to operate under its own name and independently," said Metrostav spokes person František Polák. "It has a good reputation and has strong tunnelling operations and bases in Austria and Germany, and also in Scandinavia and the USA. We considered this acquisition to strengthen out operations also in these markets," he added.
BeMo Tunnelling employs about 400 people and specializes mainly in tunneling and tunneling equipment. Last year, its turnover reached €170 million (about US$228 million, CZK4.4 billion). Alpine Bau acquired the company only recently.
A statement by BeMo says it is "delighted" with the prospect. Alpine BeMo Tunnelling and its subsidiaries and branch offices were separate legal entities to Alpine Bau GmbH and was not in administration or under any insolvency proceedings but its sale as part of the liquidation of Alpine Bau and of all its assets and shares, will raise money to settle with Alpine Baucr editors.
Josef Arnold, Managing Director of BeMo Tunnelling is reported as saying that "no reduction in staff" is anticipated under the new owner ship and that being part of Metrostav will open market opportunities in the Czech Republic and in Scandinavia where Metrostav is active. In 2012 BeMo had a turnover of €170 million.
Since December 1990, Metrostav a.s. has been the legal successor of the state-owned company of the same name, which was established in 1971. During its history, it has changed from a specialised firm focusing on the construction of the Prague Metro, into a universal construction company. At the end of December 2012, company employees numbered 3,200. Turnover in 2012 totalled CZK20.8 billion (€ 800 million) with about CZK1.2 billion (€46 million) of that generated outside the Czech Republic, and will include a highway tunnel contract recently secure with a local partner in Iceland.
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