21st May 2015 07:06
LONDON (Alliance News) - Ground engineering company Keller Group PLC on Thursday said it has struck a USD40 million deal in cash to acquire the GeoConstruction business from US water management, construction and drilling company Layne Christensen Co.
GeoConstruction, which trades at Bencor, makes diaphragm walls, a product used in major infrastructure projects and which Keller has only been able to offer on a limited basis to date.
"This important acquisition marks another milestone in our strategy of extending our global leadership by expansion into new technologies. The addition of Bencor's D-wall technology and equipment will allow us to further expand our global customer offer for complex projects," said Keller Chief Executive Alain Michaelis.
Shares in Keller were up 0.2% to 1,006.00 pence at the open Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Keller