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| Hochtief sets up Hochtief Procurement Asia in Hong Kong Hochtief - together with the Chinese trading company B.S.C. Industries Ltd. - today founded Hochtief Procurement Asia Ltd. Both sides hold a 50 percent stake in the Hong Kong-based joint venture. Hochtief Procurement Asia will, among other things, supply Hochtief subsidiaries worldwide directly with building materials and fit-out elements acquired on favorable terms from manufacturers in China. Hochtief has made this move in response to the rising costs of construction materials and occasional supply bottlenecks in Europe and the US. The quality of the construction materials will be assured by continuous production monitoring, material tests and certifications - an agreement to this effect has been concluded with the Rhineland branch of the German technical supervisory board, TÜV. write your comments about the article :: © 2007 Construction News :: home page |