24.01.2011

Mills takes a stake in Rohr

Brazillian based Mills Estruturas e Serviços de Engenharia has confirmed that it will purchase a 25 percent stake in Rohr S/A Estrutura Tubulares for Real 90 million ($54 million).

Rohr is a privately held Brazilian scaffold contracting company that specialises in “access engineering and solutions for civil construction, serving the heavy construction, infrastructure, residential and commercial construction markets as well as industrial maintenance and events”.

Rohr’s revenues in 2009 were R$ 163 million ($97 million) with newt earnings of R$ 33 million, ($20 million).

Mills says “This strategic acquisition will enable us to broaden our exposure to the sectors we serve - infrastructure, residential and commercial construction, oil & gas industry, among others -, through investment in a company with solid market reputation, competent management, strong financials and profitability compatible to our business”.

This new investment is in addition to the organic growth plans that the company has already announced, in which it will invest Real 1.1 billion ($650 million) in total for the period 2010 to 2012. See Mills up 66%