The acquisition involves an investment of 220 million USD
Webber Group is involved in infrastructure civil engineering and aggregate recycling and extraction, with over 400 million USD in annual revenues
The operation is another opportunity to expand in the US market and it provides synergies with other Ferrovial initiatives in the United States
Ferrovial, through subsidiary Cintra, already operates the Chicago Skyway concession and holds the contract for the Trans-Texas Corridor
Ferrovial has reached an agreement to buy 100% of Texan group Webber, which is specialised in infrastructure civil engineering, recycling of aggregates and extraction and supply of sand in Texas, the second-largest infrastructure market in the US. The acquisition will cost 220 million USD (178 million euro) and depends on approval by the US anti-trust authorities as well as the standard conditions in this type of transaction.
New opportunity for growth in the United States, plus future synergy between businesses
The acquisition is highly strategic "as it is a continuation of our strategy in international markets and is a new opportunity for growth in the United States", said Joaquín Ayuso, CEO of Ferrovial.
"Webber is specialised in building infrastructure and also has a very stable, high-margin business in the production and distribution of recycled aggregate. It also has a strong track record, a lean structure and a sound balance sheet. Webber has a seasoned management team with a corporate culture focused on cost containment and optimal use of materials and equipment", highlighted Pedro Buenaventura, General Manager of Ferrovial´s Construction division.
The acquiree has good prospects of organic growth and will also provide synergy, market knowledge, and support for Ferrovial´s construction structure in future projects linked to subsidiary Cintra´s operations in Texas, such as the Trans-Texas Corridor, which is currently being designed.
A leading position in the Texan construction market
Webber is one of the top three construction companies in Texas and is the leading producer and distributor of recycled aggregate.
Projections for FY2005 are revenues to total more than 400 million USD (325 million euro). The backlog currently amounts to more than 500 million USD (406 million euro).
The Webber Group operates in the following business areas:
Construction of transport infrastructure:
- Webber Group operates in Texas, mainly Dallas and Houston, in the field of infrastructure construction: roads, bridges, airport runways, etc.;
- It also manufactures concrete products for roads, both for use in its own projects and for sale to third parties;
- It has a sizeable fleet of construction machinery and equipment, a vital factor in the local construction business.
Recycled aggregate production and distribution:
- Leading recycled aggregate company in Houston;
- Webber operates 12 recycling centres in Houston and environs and has a sand quarry in Conroe (Texas); it also owns five mobile aggregate processing plants.
Ferrovial in the US market: Texas and Chicago
Ferrovial has been operating in the US market for less than one year, in two different transport infrastructure projects.
In December 2004, Cintra, Ferrovial´s concession subsidiary, became a "strategic partner" of the State of Texas for a 50-year period in the design and planning of the Trans-Texas Corridor, one of the most ambitious infrastructure projects ever undertaken in the US. The plan represents a total investment of between 29 and 36.7 billion USD over 50 years. The contract gives the winning consortium a number of preferential rights to obtain toll road concession projects directly. In its preliminary analysis, Cintra proposed to directly develop at least five toll road projects worth approximately 6 billion USD.
Some months earlier, in October 2004, Cintra was awarded the concession for the Chicago Skyway, the first operating toll road to be privatised in the United States. The operation, involving an investment of 1.83 billion USD, consists of a 99-year concession to maintain and operate an elevated toll road measuring 7.8 miles (12.5 km). The Skyway links the Dan Ryan Expressway (southern access to Chicago) with the Indiana Toll Road (access to Indiana, Michigan and the north-eastern states). Ferrovial acquires one of the largest construction groups in Texas, the second-largest infrastructure market in the US
News
The acquisition involves an investment of 220 million USD
Webber Group is involved in infrastructure civil engineering and aggregate recycling and extraction, with over 400 million USD in annual revenues
The operation is another opportunity to expand in the US market and it provides synergies with other Ferrovial initiatives in the United States
Ferrovial, through subsidiary Cintra, already operates the Chicago Skyway concession and holds the contract for the Trans-Texas Corridor
Ferrovial has reached an agreement to buy 100% of Texan group Webber, which is specialised in infrastructure civil engineering, recycling of aggregates and extraction and supply of sand in Texas, the second-largest infrastructure market in the US. The acquisition will cost 220 million USD (178 million euro) and depends on approval by the US anti-trust authorities as well as the standard conditions in this type of transaction.
New opportunity for growth in the United States, plus future synergy between businesses
The acquisition is highly strategic "as it is a continuation of our strategy in international markets and is a new opportunity for growth in the United States", said Joaquín Ayuso, CEO of Ferrovial.
"Webber is specialised in building infrastructure and also has a very stable, high-margin business in the production and distribution of recycled aggregate. It also has a strong track record, a lean structure and a sound balance sheet. Webber has a seasoned management team with a corporate culture focused on cost containment and optimal use of materials and equipment", highlighted Pedro Buenaventura, General Manager of Ferrovial´s Construction division.
The acquiree has good prospects of organic growth and will also provide synergy, market knowledge, and support for Ferrovial´s construction structure in future projects linked to subsidiary Cintra´s operations in Texas, such as the Trans-Texas Corridor, which is currently being designed.
A leading position in the Texan construction market
Webber is one of the top three construction companies in Texas and is the leading producer and distributor of recycled aggregate.
Projections for FY2005 are revenues to total more than 400 million USD (325 million euro). The backlog currently amounts to more than 500 million USD (406 million euro).
The Webber Group operates in the following business areas:
Construction of transport infrastructure:
- Webber Group operates in Texas, mainly Dallas and Houston, in the field of infrastructure construction: roads, bridges, airport runways, etc.;
- It also manufactures concrete products for roads, both for use in its own projects and for sale to third parties;
- It has a sizeable fleet of construction machinery and equipment, a vital factor in the local construction business.
Recycled aggregate production and distribution:
- Leading recycled aggregate company in Houston;
- Webber operates 12 recycling centres in Houston and environs and has a sand quarry in Conroe (Texas); it also owns five mobile aggregate processing plants.
Ferrovial in the US market: Texas and Chicago
Ferrovial has been operating in the US market for less than one year, in two different transport infrastructure projects.
In December 2004, Cintra, Ferrovial´s concession subsidiary, became a "strategic partner" of the State of Texas for a 50-year period in the design and planning of the Trans-Texas Corridor, one of the most ambitious infrastructure projects ever undertaken in the US. The plan represents a total investment of between 29 and 36.7 billion USD over 50 years. The contract gives the winning consortium a number of preferential rights to obtain toll road concession projects directly. In its preliminary analysis, Cintra proposed to directly develop at least five toll road projects worth approximately 6 billion USD.
Some months earlier, in October 2004, Cintra was awarded the concession for the Chicago Skyway, the first operating toll road to be privatised in the United States. The operation, involving an investment of 1.83 billion USD, consists of a 99-year concession to maintain and operate an elevated toll road measuring 7.8 miles (12.5 km). The Skyway links the Dan Ryan Expressway (southern access to Chicago) with the Indiana Toll Road (access to Indiana, Michigan and the north-eastern states). 
