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| Bouygues Construction acquires VCES in the Czech Republic Bouygues Bātiment International, a subsidiary of the French giant Bouygues Construction, has just acquired a majority stake in VCES, a significant player in the building and civil works market in the Czech Republic. Created in 1991, VCES has 1,100 employees and operates mainly in Bohemia and Moravia. In 2005, the company reported sales of 130 million euros, mainly in water treatment (waste water treatment plants), building (housing, schools, hospitals, etc.) and property development. Public-sector clients account for two thirds of sales. Bouygues Construction plans to acquire VCES in two phases. Agreements were signed recently, and have been submitted for approval by the administrative authorities, for the acquisition of a majority stake in the company. The remainder will be acquired after a 3-year transition period. With this acquisition, Bouygues Construction takes a long-term stance in one of the fast-growing countries of the European Union (6% growth in 2005) that offers excellent prospects in the construction sector. Bouygues Construction is now shifting its strategy in Europe to rely more on local players that are perfectly integrated within a country's economic fabric. write your comments about the article :: © 2006 Construction News :: home page |