The second largest construction company in Germany, Bilfinger SE, is now contemplating a bid for the water technologies business being offered for sale by Siemens AG. This plan was confirmed by two individuals who spoke on condition of anonymity.
The business is located in Warrendale, PA and has been in the sights of Bilfinger CEO Roland Koch's takeover prospects from his available Eur850 million or US$1.1 billion fund for acquisitions.
The Siemens water busienss includes wastewater treatment and purification technologies. It is estimated to have a value between Eur500 million and Eur900 million according to a notation last March from Morgan Stanley. The unit generates annual sales in the area of Eur1 billion and has in its employ 5,400 employees.
The representatives from both Bilfinger and Siemens declined to make any comment onthe matter.
Current Bilfinger CEO intends to return the Mannheim based firm into a service provider, moving from its construction beginnings. The firm currently has a roster of 2,000 employees specifically for the water technologies segment. Its previous acquisition was Johnson Screens, an American water treatment equipment manufacturer last January as well as Diemme, the Italian filtration systems maker last 2011.
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