Bilfinger
 | |
| Company type | Societas Europaea |
|---|---|
| FWB:GBF | |
| ISIN | DE0005909006 |
| Industry | Engineering and Services |
| Predecessor | Julius Berger Tiefbau |
| Founded | 1880 |
| Founder | Paul Bilfinger |
| Headquarters | Mannheim,Germany |
Key people | Eckhard Cordes (Chairmanof thesupervisory board) Thomas Schulz (CEO) |
| Revenue |  €3,737.4 million (2021)[1] |
| €121.2 million (2021)[1] | |
| €123.4 million (2021)[1] | |
Number of employees | 29,756 (2021)[1] |
| Website | bilfinger |
Bilfinger SE(previously namedBilfinger Berger AG) is a Europeanmultinationalcompany specialized in civil and industrial construction, engineering and services based inMannheim,Germany.
History[edit]
Bilfinger dates back to 1880 when August Bernatz founded Bernatz Ingenieurwissenschaft as an engineering business: it became known, from 1886 as Bernatz & Grün and, from 1892, as Grün & Bilfinger when Paul Bilfinger replaced Bernatz as partner.[2]
During theSecond World War,Grün & Bilfinger employed Jewish slave laborers from theKovno Ghettoin occupiedLithuaniawhere it was known for its brutal harassment of the Jewish slaves.[3]
In 1970, Grün & Bilfinger acquired a majority stake in Julius Berger-Bauboag AG, itself a merger of two companies, Julius Berger Tiefbau AG and Berlinische Boden-Gesellschaft AG, both founded in 1890. The combined business, fully integrated in 1975, finally took the name Bilfinger & Berger Bauaktiengesellschaft.[2]In 1994 the acquisition of Razel Company took place.[2]
In 2001 the business changed its name to Bilfinger Berger AG.[2]
In 2005, Bilfinger bought all shares ofBabcock Borsig ServiceGroup from Deutsche Beteiligungs AG.[4][5]
In 2008 the company sold Razel to group Fayat for 137 million euro.[6]
In October 2009 the company acquired directly MCE Beteiligungsverwaltungs GmbH itself, a business based inLinzfocused on the design, construction and maintenance of facilities in the process industry and the energy sector.[7]
In June 2010, aprospectuswas issued with the aim of listingBilfinger Berger Australiaon theAustralian Securities Exchangevia aninitial public offering.[8]In July 2010 the listing was abandoned with atrade saletoLendleaseagreed in December 2010.[9][10]
In 2010, services contributed to 80% of the company's total output volume of €8,123 million and EBIT for the services division amounted to €297 million.[11]In November 2011, Bilfinger acquired 98 percent of shares in Neo Structo Construction Private Ltd., located in Surat, India, for a purchase price of €47 million.[12]In 2010 Bilfinger became aSocietas Europaea(SE).[13]
In December 2014 Bilfinger signed a deal to sell the construction division to Switzerland'sImpleniaAG. It had once been Germany's second largest builder.[14]
In June 2016 Bilfinger announced the sale of the facilities management and real estate business to Swedish financial investor EQT.[15]
In February 2018 the company announced that it would seek damages from the former directors of the company after alleged breaches in compliance and a series of acquisitions that failed to create shareholder value.[16]After securing shareholder consent in June 2020, Bilfinger reached a settlement with the former Executive Board members. The settlement with a total volume of €18.2 million ends the assertion of claims of for damages by Bilfinger.[17]
Operations[edit]
Bilfinger SE is aDeutsche BörseSDAXindex traded, leading international industrial services provider. The portfolio covers the entire value chain from consulting, engineering, manufacturing, assembly, maintenance, plant expansion as well as turnarounds and also includes environmental technologies and digital applications.[18]
Bilfinger, as a result of numerous acquisitions and disposals, is no longer a traditional construction company but instead a provider of services for industrial plants, power plants and real estate.[19]In financial year 2019, revenues came from industrial and engineering services in the Chemical & Petrochemical (30%), Energy & Utilities (15%), Oil & Gas (30%), Pharma & Biopharma (10%), Metallurgy (5%) and Cement/Other (10%) industries.[20]
Ownership[edit]
The ownership of the business as at 31 December 2019 was as follows:[21]
| Percentage | Investor |
|---|---|
| 74.3% | Institutional Investors |
| 16.9% | Undisclosed |
| 8.9% | Treasury Shares |
| 26.8% | Cevian Capital |
| 14.4 % | Institutional Investors Germany |
| 10.9% | Institutional Investors UK |
| 9.4 % | Institutional Investors USA |
| 4.7 % | Institutional Investors Switzerland |
| 3.9 % | Institutional Investors Scandinavia |
| 2.6% | Institutional Investors Spain |
| 1.2% | Institutional Investors France |
| 2.3% | Other Institutional Investors |
Major projects[edit]
Major projects have included:
- Ludendorff BridgeatRemagencompleted in 1919[22]
- Busch Memorial Stadiumcompleted in 1966[22]
- Munich Olympic Stadiumcompleted in 1972[22]
- Dresdner Bank Towercompleted in 1978,[22]
- Oymapinar DaminTurkeycompleted in 1984[22]
- Bang Na Expresswaycompleted in 2000[23]
- Blue Linein Bangkok completed in 2004,[24]
- Centennial Bridgeover thePanama Canalcompleted in 2004,[25]
- Svinesund BridgebetweenSwedenandNorwaycompleted in 2005[26]
- expansion of theGloucestershire Royal Hospitalcompleted in 2005,[27]
- northern section of theNuremberg–Munich high-speed railwaycompleted in 2006[28]
- Golden Ears BridgenearVancouverinCanadacompleted in 2009,[29]
- foundations for theLondon Arraycompleted in 2009[30]
- Niederfinow Boat Liftin Germany completed in 2014[31]
- restoration and conversion ofSonnenstein CastleinPirnafor the Administration Offices inSächsische Schweiz-Osterzgebirgein Germany completed in 2012[32]
- Block 9 of thePower stationofMannheimin Germany completed in 2013[33]
- Edinburgh Tramsline inScotlandcompleted in 2014[34]
- North-South line ofCologne Stadtbahnin Germany completed in 2015[35]
- Sedrun section ofGotthard Base TunnelinSwitzerland(along withFrutiger AG,ImpleniaandImpresa Pizzarottias part of the Transco consortium) completed in 2016[36][37]
- Düsseldorf StadtbahnfromDüsseldorf-Bilk stationtoDüsseldorf Wehrhahn stationcompleted in 2016[38]
Controversies[edit]
In March 2009, a building collapsed in Cologne due to the nearby construction site for theCologne StadtbahnNord-Süd-Stadtbahn(in German).The collapse is suspected to be caused by the construction works, and to several irregularities.[39][40]In June 2020, Bilfinger reached an out-of-court agreement that settles all civil claims arising from the collapse of the city’s municipal archive building.[41]
Several other construction projects are suspected to have been conducted with irregularities: theDüsseldorf StadtbahnWehrhahn-Linie(in German),theNuremberg–Munich high-speed railway[39][40]and theBundesautobahn 1.[42]
In November 2018, Bilfinger was sued byChristopher Steele,who alleged that the company owed €150,000 for an investigation into Bilfinger's activities inNigeriaandSakhalin.[43]
See also[edit]
References[edit]
- ^abcd"Annual Report 2021"(PDF).Bilfinger.Retrieved10 March2022.
- ^abcd"Bilfinger - der internationale Engineering- und Servicekonzern - Bilfinger SE".bilfingerberger.10 July 2015.Retrieved14 July2015.
- ^Tauber, Joachim (2015).Arbeit als Hoffnung: jüdische Ghettos in Litauen 1941-1944.Berlin: De Gruyter Oldenbourg. p. 187.ISBN978-3110414769.
- ^"Bilfinger Berger is the new strategic investor".2005-06-23.Retrieved2010-07-08.
- ^"Deutsche Beteiligungs AG Divests Babcock Borsig Service".PRNewswire. 2005-03-09.Retrieved2010-07-09.
- ^FAYAT SA acquires Razel SA from Bilfinger Berger AGArchived2009-10-21 at theWayback MachineThomson M&A, 20 October 2008
- ^Bilfinger Offers Remedies in European Union Review of MCE DealArchived2011-07-23 at theWayback Machine
- ^German giant Bilfinger pushes ahead with floatABC News9 June 2010
- ^Bilfinger Berger postpones Valemus IPOThe Age6 July 2010
- ^Lend Lease to acquire leading Australian engineering and construction businessesLend Lease 21 December 2010
- ^Bilfinger SE:Annual Report 2010,accessdate: 25. August 2011
- ^German Bilfinger Berger Acquires Surat Based Neo Structo ConstructionArchived2011-11-26 at theWayback MachineAll Voices, 24 November 2011
- ^Advising Bilfinger on transformation into SE[permanent dead link]Allen & Overy, 15 April 2010
- ^"Bilfinger Seals $282 Million Sale to Implenia to Exit Building".Bloomberg. 14 December 2014.Retrieved13 July2015.
- ^"EQT buys Bilfinger's building and facility division".FMJ. 3 June 2016. Archived fromthe originalon 11 August 2017.Retrieved20 March2019.
- ^"Bilfinger to seek compliance damages from former executives".Euro News. 20 February 2018. Archived fromthe originalon 21 March 2019.Retrieved20 March2019.
- ^"Bilfinger Shareholders Approve Settlement With Former Executive Board Members".FinanzNachrichten.RetrievedJuly 10,2020.
- ^Bilfinger company profile28. March 2017
- ^n-tv online,Abkehr vom Baugeschäft: Bilfinger Berger im Umbruch(13. März 2011), zuletzt retrieved, 24 August 2011
- ^"Reporting Factbook"(PDF).Bilfinger SE.RetrievedJuly 10,2020.
- ^"Reporting Factbook"(PDF).Bilfinger SE.RetrievedJuly 10,2020.
- ^abcde"Bilfinger - der internationale Engineering- und Servicekonzern - Bilfinger SE".bilfingerberger.10 July 2015. Archived fromthe originalon 24 March 2010.Retrieved14 July2015.
- ^Brockmann, Christian; Horst Rogenhofer (January–February 2000)."Bang Na Expressway, Bangkok, Thailand—World's Longest Bridge and Largest Precasting Operation"(PDF).PCI Journal.45(1): 26–38.doi:10.15554/pcij.01012000.26.38.Archived fromthe original(PDF)on 2011-06-16.Retrieved2008-07-19.
- ^"Thailand starts digging tunnels for 1st Bangkok subway. - Free Online Library".thefreelibrary.Retrieved2024-05-18.
- ^"Second Bridge over the Panama Canal".Retrieved5 December2015.
- ^"Bilfinger - der internationale Engineering- und Servicekonzern - Bilfinger SE".bilfingerberger.10 July 2015.Retrieved14 July2015.
- ^"Bilfinger wins reprieved hospital project".Construction News. 26 July 2001.Retrieved21 April2018.
- ^"Nuremberg–Munich high-speed railway"(PDF).Mega project.Retrieved14 July2015.
- ^Golden Ears BridgeatStructurae
- ^"London Array contract awarded to Bilfinger Berger".IJ Global. 4 November 2009.Retrieved14 July2015.
- ^"German Ship Lift Rebuilt as Stimulus Floods Waterways (Update1)".bloomberg.Retrieved14 July2015.
- ^German Construction Will See Contraction Ease in 2010Archived2011-07-23 at theWayback Machine
- ^Elin Motoren."ELIN Motoren".elinmotoren.at.Archived fromthe originalon 11 November 2013.Retrieved14 July2015.
- ^Transport Initiatives Edinburgh Press ReleaseArchived2011-10-06 at theWayback Machine
- ^"KÖLN Nord-Süd-Stadtbahn".Schwandl.15 December 2015.Retrieved12 October2018.
- ^Transco websiteArchived2010-05-29 at theWayback Machine
- ^Booth, Martina (29 April 2010)."Gotthard: A titanic tunnel".New Civil Engineer.EMAP Publishing Limited.Retrieved15 July2015.
- ^"Bilfinger Berger completes phase I of Düsseldorf rail line".World Construction Network. 22 September 2010.Retrieved14 July2015.[permanent dead link]
- ^ab"Les combines des chantiers du métro minent le vieux Cologne".La Croix(in French). La-Croix. 3 March 2010.Retrieved2013-06-10.
- ^ab"En Allemagne, les graves malversations du numéro deux du BTP font scandale".Le Monde.fr(in French). Lemonde.fr. 2 March 2010.Retrieved2013-06-10.
- ^"Three big contractors agree €600m settlement for fatal collapse of Cologne archives building".Global Construction Review.July 2020.RetrievedJuly 10,2020.
- ^"Crumbling A1 motorway casts shadow on construction firm - The Local".Thelocal.de.Retrieved2013-06-10.
- ^Harding, Luke (November 8, 2018)."Trump dossier author suing engineering firm for alleged unpaid work".The Guardian.
Further reading[edit]
- Bernhard Stier and Martin Krauß:Drei Wurzeln – ein Unternehmen. 125 Jahre Bilfinger Berger AG.ISBN3-89735-411-X.
External links[edit]
| International | |
|---|---|
| National | |