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Tue July 16 2024

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Ferrovial completes €51m Polish acquisition

18 Nov 11 Ferrovial Agroman subsidiary Budimex has completed its €51m (£43.6m) acquisition of Polish rail construction business PNI.

Ferrovial Agroman CEO Alejandro de la Joya said: "Poland is one of the countries in Europe that continues to invest heavily in infrastructure. We expect opportunities to arise in the railway market and we will seek to leverage them using the synergies of PNI and Budimex and the experience of Ferrovial Agroman on high-speed railways in Spain."

PNI – which stands for Przedsiebiorstwo Napraw Infrastruktury -  specialises in civil engineering and railway design, construction and maintenance and was a subsidiary of Polish railway infrastructure company PKP. PNI had an order backlog of €318m at August 2011 and revenues in 2010 totalled €127m. It has a staff of more than 1,700 and operates throughout Poland from offices in Warsaw, Katowice, Radom and Stargard Szczeciñski.

PNI's most important contracts include refurbishing the Danzig station, rebuilding the Hrubieszów station and upgrading the railway between Krakow and Rzeszów. The company has also upgraded Polish railway lines including Sulechów-Luboñ, Bednary-Zgierz and Goleniów-Kolobrzeg.

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