Germany: HOCHTIEF and Duisport Found Joint Venture

Duisport (Duisburger Hafen AG) and HOCHTIEF Concessions AG, a subsidiary of the international construction services specialist HOCHTIEF, have founded a joint venture to develop ports and port terminals together worldwide.

The focus of the new company will be managing, operating and marketing ports and port terminals. This will be supplemented by planning, development and construction activities. duisport is providing its port technical and logistics expertise in particular, along with the possibility of integrating projects into its existing logistics network. HOCHTIEF Concessions is contributing its expertise and international market knowledge in structuring, financing and managing large infrastructure projects. The company will also open up access to the global HOCHTIEF network. “The development of port projects fits outstandingly with the existing HOCHTIEF strategy,” underlined Dr. Herbert Lütkestratkötter, Chairman of the Executive Board of HOCHTIEF. The Group represents all services connected with infrastructure and in doing so offers all solutions under one roof – from planning and financing through construction up to strategic orientation or operational management. “With our experienced team we are thus best positioned to successfully tap and cultivate the strongly growing port segment,” emphasized the board head.

“By founding this company duisport will be in a position to further develop and permanently establish our already implemented steps to internationalization in a target oriented manner and to realize logistics projects in strategic markets with value creating consequences for NRW,“ said Erich Staake, Chief Executive Officer of Duisburger Hafen AG. After committees at both companies had already approved the founding, the shareholder agreements were signed last week. Both companies will hold 50 per cent each of the new company, which will have its headquarters in Duisburg. Subject to approval under cartel law the company will start work on 1 January 2011. The first joint projects are already being planned, including projects in Europe and South America.

[mappress]

Source: duisport, November 30, 2010;

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