VINCI Construction International Network has finalized the acquisition of the HEB Construction company in New Zealand.
Founded more than 40 years ago, HEB Construction is a player in the New Zealand construction market.
The company offers a broad array of expertise in civil engineering, engineering structures, hydraulic engineering, roadworks, earthworks, marine and port works, pre-casting and transport. The company employs 750 people and generated revenue of about €230 million (US$256.8 million) in 2014.
Philippe Chavent, Chairman of VINCI Construction International Network, stated:
"HEB Construction's fundamentals form an excellent fit with those of VINCI and its new projects reflect its vitality. One good example is the new contract notification in April of this year to build a 27 km four-lane urban motorway in Wellington. The project, in which HEB is participating as a member of a joint venture, has a value of more than €500 million and is one of the island's largest current infrastructure projects."
With this acquisition, VINCI confirms its strategy of expanding in the high-growth international markets. New Zealand's GDP increased by more than 3% in 2014 and the country's construction and infrastructure sectors hold out prospects for steady growth.