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Sun July 14 2024

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Soletanche Freyssinet buys Turkish and Canadian contractors

19 Dec 11 Vinci Construction subsidiary Soletanche Freyssinet has agreed to take a majority stake in both Zetas in Turkey and Bermingham, in Canada.

The acquisitions in its specialised fields of foundations and soil technology are designed to help  consolidate the group's development outside France and open up new market opportunities in Turkey, Central Asia and Canada.

Zetas, founded in 1988 and based in Istanbul, has an annual turnover of €45m (£37.8m). It offers a range of services  in the geotechnical and foundations fields. Zetas is also present in the Middle East (United Arab Emirates, Saudi Arabia, Lebanon, Qatar), as well as in Central Asia (Azerbaijan, Turkmenistan, Kazakhstan).

Bermingham, which has a turnover of some €35m (£29m) was founded in 1897 and is based in Toronto. It is the oldest Canadian company specialising in foundations and maritime works. It is also active in the mining, transport and energy sectors, producing specialised equipment and supplying engineering services. It operats in more than 40 countries and will complete Soletanche Freyssinet's geographical coverage of Canada.

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