ACS' Hochtief Wins EUR 130mln Building Contracts

Hochtief has been awarded building construction contracts worth up to EUR 130 million. The company has also been involved in other recent contracts, including a $414 million contract and a $1 billion contract for the Long Bridge North project in Virginia. ACS, the parent company of Hochtief, has seen a 17% increase in net profit driven by business in North America.

Hochtief AG, a leading global player in the construction industry, has recently secured two significant building construction contracts in Germany, with a total value of up to EUR 130 million. The company has also been involved in other recent contracts, including a $414 million contract and a $1 billion contract for the Long Bridge North project in Virginia. These developments highlight Hochtief's expanding footprint in North America and its commitment to sustainable infrastructure.

The first contract, awarded by the University of Duisburg-Essen, involves the construction of a new research center on the campus in Essen. This five-story building will focus on interdisciplinary work in nano- and material sciences, energy, water, microbiome, protein, environmental, and chemical research. The research center will feature a 4,100-square-meter state-of-the-art laboratory area and a large-scale photovoltaic system, emphasizing sustainability and innovation. Construction is set to begin in late summer 2025 and is scheduled for completion in spring 2028 [1].

The second contract, awarded by the city of Krefeld, involves the conversion and extension of a former boiler house into a modern event center. This project, which includes state-of-the-art technology for concerts and special events, will be carried out by Hochtief in stages, with the company responsible for the entire planning process. The project underscores Hochtief's extensive experience in event property construction, as seen in its previous projects such as the Elbe Philharmonic Hall in Germany and the SoFi Stadium in Los Angeles [1].

Additionally, Hochtief's parent company, ACS, has reported a 17% increase in net profit driven by business in North America. This growth is attributed to the company's successful execution of large-scale infrastructure projects, including the Franconia-Springfield Rail Bypass in Virginia, which aims to eliminate a longstanding bottleneck and improve safety and reliability for both freight and passenger trains. The project, awarded to the FlatironDragados-Herzog joint venture, is scheduled to begin construction in July 2025 and is expected to be completed by 2029 [3].

These recent contracts and financial results demonstrate Hochtief's ability to secure and execute major projects, positioning the company as a key player in the global construction market.

References:
[1] https://www.marketscreener.com/news/hochtief-wins-two-major-building-contracts-in-germany-ce7c5cdfdf8ff426
[2] https://www.globalbankingandfinance.com/ELECTROLUX-RESULTS-ebefed24-74f4-4d3c-b5da-92b02df7d133
[3] https://constructionreviewonline.com/news/414m-contract-awarded-for-franconia-springfield-rail-bypass/