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| FCC acquires Aeroporti di Roma Handling Flightcare, FCC's handling subsidiary, completed the acquisition of ADRH from its parent company, Aeroporti di Roma, for an equity value of 72.5 million euro. The sale agreement was signed in Madrid on 4 August 2006 and it has been completed following approval by the Italian authorities and the successful conclusion of intense negotiations with the trade unions. The acquisition is Flightcare's first incursion into the Italian market, where it is now the leading independent handling operator at Rome's airports (Leonardo da Vinci - Fiumicino and Giovanni Battista Pastine - Ciampino). At these airports, ADRH provides passenger and ramp handling services to close to 100 airlines, handling over 150,000 aircraft movements per year, and it has an 85% share of deregulated handling at Fiumicino (excluding self-handling by Alitalia and AirOne). ADRH also has a dominant position at Ciampino (around 95% of the total market). Overall, ADRH has close to 35% of the total market at Rome's two airports, making it the main independent handling operator in Rome and one of the biggest in Italy. ADRH projects 85 million euro in revenues and 9.6 million euro in EBITDA in 2006. write your comments about the article :: © 2006 Construction News :: home page |