Graña y Montero announces new investment in Chile through the acquisition of DSD Construcciones y Montajes
14 August 2013 - 12:50AM
Business Wire
Today, Graña y Montero (“Graña y Montero” or the “Company”), the
engineering and construction Peruvian company recently listed in
the New York Stock Exchange, formalized the acquisition of a 100%
stake in DSD Construcciones y Montajes S.A. (“DSD”), a Chilean
engineering and construction company specialized in providing
services to the energy, oil and gas, cellulose and mining sector in
Chile and Latin America.
The announcement was made by Graña y Montero’s CEO, Mario
Alvarado, after the subscription of the purchase agreement by which
Graña y Montero acquired 100% of DSD´s shares from the Ferrostaal
Group, through an investment of US$ 41 million.
According to Mario Alvarado, the Company’s investment in DSD,
together with the purchase of a majority stake in Vial y Vives in
late 2012, will enable the Company to strengthen its presence in
Chile. The combination of the human capabilities from the different
companies that are part of the Graña y Montero Group will generate
a highly specialized services provider with a regional reach.
He also noted that this operation is a further step in the
internationalization strategy of the leading engineering and
construction group in Peru. "This is Graña y Montero’s third
investment in Chile and it confirms our objective to grow in that
country and in a regional level, in line with the objectives
outlined in the recent capital raising process carried out in the
New York Stock Exchange".
In 2011, Graña y Montero acquired from the Endesa Group a 75.0%
interest in Compañía Americana de Multiservicios Limitada (CAM) a
services company from the electricity sector based in Chile and
with operations in Colombia, Brazil and Peru, and in 2012 it
acquired a 74.0% stake in Chilean construction company Vial y
Vives, a company specialized in the mining sector.
DSD’s Business Development
In its 19 years of business development, DSD has been mainly
present in major construction and assembly projects of oil
refineries, cellulose and paper plants, thermoelectric and mining
projects in Chile, refineries in Peru and energy and petrochemical
industries in Venezuela.
These include the following projects: in refineries, in Chile,
Delayed Coking Plant, Mild Hydrocracking Units and Gasoline
desulfurization for Empresa Nacional del Petróleo (ENAP); in Peru,
a Cogeneration Plant and Fluidized Catalytic Cracking Unit (FCC)
for Refinería La Pampilla; in Venezuela, Ammonia Plant for the
Venezuelan Petrochemical (Pequiven).
In Energy, in Chile, Units 3 and 4 of 150MW each for
Termoeléctrica Guacolda, for Mitsubishi Heavy Industries; in
Venezuela, the expansion of a Combined Cycle Plant for ENELVEN.
DSD has also executed paper plants and cellulose projects for
CMPC and Arauco in Chile, it has also executed various mining
projects for the Radomiro Tomic Divisions, Chuquicamata, Gaby de
Codelco, Minera Spence, Minera Escondida and Minera El Abra.
About the Companies
DSD is one of the most important companies in the provision of
engineering and construction services for the Energy, Oil and Gas,
Cellulose and Mining industry in Chile and other Latin American
countries, specializing in electromechanical assemblies. With over
19 years of history, DSD has an activity, to June 2013, of US$ 65.6
million and is currently involved in the Antucoya (Antofagasta
Minerals), Los Colorados (CAP Mining) and Ministro Hales (Codelco)
mining projects as well as in the maintenance of plants projects
for ENAP in Concon.
Vial y Vives is one of the leading Chilean companies in the
civil works and assembly, especially in the mining sector. Its
backlog as of July 2013 amounts to US$ 226 million.
Graña y Montero
Founded in 1933, Graña y Montero is the only Peruvian
engineering and construction company listed in the Lima Stock
Exchange since 1997 and now also the NYSE. Graña y Montero has
participated in the development of major engineering and
construction projects in Peru, including large-scale, complex
projects in the energy, mining, construction and real estate
sectors.
With 80 years of operations, Graña y Montero has leveraged its
engineering and construction expertise into complementary lines of
business, such as the development, ownership, operation and
maintenance of infrastructure assets, real estate developments, and
the provision of technical services. Graña y Montero has
significant investments in infrastructure concessions, such as
three toll roads and Line 1 of the Lima Metro.
Graña y Montero has also executed several projects outside Peru,
and has acquired two companies in Chile before acquiring DSD: Vial
y Vives, a construction company specialized in the mining sector,
and CAM, which is specialized in electric services, with operations
in Chile, Peru, Brazil and Colombia.
Graña y Montero is listed in the NYSE under ticker symbol “GRAM”
and in the Lima Stock Exchange under ticker symbol “GRAMONC1”.
Graña y MonteroJuan Jose ArrietaCorporate Communications&
Social Responsibility Officer(511)
213-6598jarrieta@gym.com.peorDennis Gray F.Investor Relations
Officer(511)
213-6583dgray@gym.com.perelacion.inversionistas@gym.com.pe
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