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| Ferrovial acquires Steel Ingenierķa in Chile Spanish infrastructure firm Ferrovial has acquired 70% of Steel Ingenierķa, a specialized mining services company in Chile, for 21 million euro through subsidiary Ferrovial Services. It is Ferrovial's first step into this new market. As a result of this transaction, Ferrovial Services is now operating in Latin America and continues to expand its international footprint, following recent contracts awards in Poland and Qatar and the acquisition of Enterprise in the UK. Ferrovial has an extensive track record in Chile, where it has been operating for the last 20 years ago in the areas of construction, toll road concessions and airport management. Steel Ingenierķa, founded in 1998, is a leading mining services company in Chile specialized mainly in industrial maintenance and heavy machinery operation and maintenance at mines. The company had 1,100 employees and revenues of 48 million euro in 2012, serving major clients such as Codelco, Anglo American Chile, Barrick, Kinross and Antofagasta Minerals. Mining accounts for 13% of Chile's GDP. The country produces one-third of the world's copper and holds 30% of global copper reserves. Chilean mining companies provided services acquire services for over 5 billion dollars. This acquisition will enable Steel Ingenierķa to develop its capacities as a provider of end-to-end value-added services, strengthened by Ferrovial's experience, broad services portfolio, and management and financial capacity. write your comments about the article :: © 2013 Construction News :: home page |