Bilfinger Berger acquires industrial services provider LTM

September 23, 2009

September 23, 2009

Foothold in the French services market: Bilfinger Berger acquires industrial services provider LTM

Bilfinger Berger has acquired an 80 percent stake in LTM, a French industrial services provider. The company, which is headquartered in Lyon, generates annual turnover of €40 million with 110 employees. The parties to the sale have agreed not to disclose any details on the purchase price. Within the scope of a management participation model, the remaining 20 percent stake in the company will be retained by the Managing Director who was previously sole proprietor.

As the second largest market in Europe for industrial services, France represents an important strategic objective for Bilfinger Berger. LTM has long-term relationships with its clients, particularly those in the pharmaceutical industry including Sanofi Aventis and Sanofi Pasteur. The company is also active at a number of sites in the chemical and petrochemical industries as well as in the energy sector. The service range spans piping and tank construction, measurement and control technology as well as the manufacture and assembly of ready-for-operation components.

Bilfinger Berger’s industrial services business has developed well in 2009 despite the economic crisis. The division is among the Group’s most profitable growth areas and will be expanded further in the future.

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