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| Strabag buys majority stake in Kirchhoff Austrian builder Strabag, which is coowned by Russian businessman Oleg Deripaska, announced the purchase of 85 % share in German road builder Kirchoff. Kirchhoff (founded in 1925), together with its many subsidiaries and affiliate companies, is the Number 3 in road construction in Germany and market leader in Baden-Württemberg. In the last few years, Kirchhoff has also made a name for itself both nationally and internationally in the modernisation and renovation of runways without interrupting airport operations. The company has a workforce of 1,600 employees who last year contributed to a (consolidated) output volume of over € 350 million. For Strabag SE, with an output volume of € 10.7 billion the Number 1 among Germany's construction companies, Baden-Württemberg has so far been a blank spot on the map. The transaction has been agreed retroactively to 1 January 2008, pending approval by the competent cartel authorities. write your comments about the article :: © 2008 Construction News :: home page |