AUSENCO BROADENS ITS HORIZONS

Written on the 9 July 2015

AUSENCO BROADENS ITS HORIZONS SPANISH company Duro Felguera and Brisbane's Ausenco (ASX: AAX) have partnered up, as AAX turns an eye to Spain, broader Europe, the Middle East and North Africa.

The companies have signed a Memorandum of Understanding to jointly pursue and deliver engineering, procurement and construction (EPC) projects globally to increase market share in their sectors.

Duro Felguera currently holds a 4.99 per cent holding in AAX, and intends to move deeper into Canada, Australia, Asia and Africa through the alliance.

Both companies have long ties to their industries, with Duro Felguera being listed on the Madrid Stock Exchange since 1905. It currently has a market capitalisation of 0.6 billion.

AAX CEO Zimi Meka (pictured) says both companies have a strong track record in delivering EPC projects and follow the same comprehensive approach, which is increasingly sought after by clients.

"Both companies have a history of successful EPC project delivery; currently over 85% of DF's revenue is generated through EPC," says Meka.

"The collective reputation for project delivery, together with well-established systems and controls, will ensure that the Alliance can leverage opportunities to maximise value and manage risks.

"Discussions with existing and prospective clients have indicated a significant shift in the focus of resources sector financiers and project owners towards cost certainty.

"As the size and complexity of projects continue to grow, there is an increasing demand in most sectors of our market to have projects delivered on an EPC basis."

AAX's expertise in mining and oil & gas solutions is complemented by Duro Felguera's established construction background, key presence in the energy sector and long history of successful EPC project delivery.

There is also said to be little overlap of current clients or markets between the companies.

AAX operates from 31 offices in 19 countries, with a major presence in the Americas, Africa and Asia.

Meanwhile, Duro Felguera holds strongest in Europe, South America and Australia respectively.

 

Latest News

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT 'DESPERATION'

BUSINESS COUNCIL CHIEF EXECUTIVE JENNIFER WESTACOTT

South Australia's new bank levy exposes the desperation of...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which...

CABCHARGE GIVEN GREEN LIGHT TO BUY YELLOW CABS IN QUEENSLAND FOR $20M

THE consumer watchdog will not oppose the proposed acquisition of Yellow Cabs in Queensland by taxi payment service C...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter