Company Website:
http://www.granaymontero.com.pe/
LIMA, Peru -- (Business Wire)
Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (“the Company” or
“Graña y Montero”) a leading Engineering and Infrastructure company in
Peru, presented today a binding offer for a majority stake of Morelco
S.A., a recognized Colombian company specialized in electromechanical
assemblies, civil works, and services for the oil and gas industry as
well as energy industry. This transaction will generate significant
synergies to the Graña y Montero Group, allowing it to enhance its
participation in the development of large projects in Colombia and Latin
America.
The binding offer presented by GyM S.A., involves the acquisition of a
70% stake in the Colombian firm. Therefore, the founders and executives
of Morelco S.A. will retain 30% of the ownership, and the current
shareholder and CEO Mr. Arturo Serna Henao will continue in charge of
the management of the company.
Mr. Arturo Serna said that the partnership with Graña y Montero will
allow them to meet clients’ demands with expanded capabilities, as well
as the challenge that large oil and gas projects represent in Colombia.
“In Graña y Montero we have found a first level partner, with whom we
share values, concern for people, and focus in clients, and with whom we
hope to address the development of the oil and gas industry in
Colombia," he detailed.
Meanwhile, Mr. Juan Manuel Lambarri Hierro, Engineering and Construction
CEO of the Graña y Montero Group, highlighted that the partnership with
Morelco S.A. will add to the Group the great experience Morelco has in
oil and gas projects. “The human capabilities of both companies will
generate an option of highly specialized services with regional scope,"
said the executive.
He added that this operation establishes a further step in the
internationalization strategy of the Peruvian construction group. “Graña
y Montero’s investment in Colombia confirms our goal of developing on an
international scale and strengthening key sectors such as oil & gas,”
said Juan Manuel Lambarri.
It’s worth mentioning that in January 2011, the Graña y Montero Group
acquired from Enersis, Compañía Americana de Multiservicios Limitada
(CAM), which is a services company in the power sector, based in Chile
and with operations in Brasil, Colombia and Perú. Also, in October 2012,
it acquired Vial y Vives S.A. which is a recognized Chilean company
specialist in the mining sector in Chile, and in August 2013, it
acquired DSD Construcciones y Montaje S.A., which is a Chilean company
with an important local and international experience in energy, oil and
gas, pulp and mining; afterwards, these companied merged. This strategy
has turned the Peruvian group into a major regional player in the sector
of Engineering and Construction.
About Morelco’s trajectory
With 36 years of experience, Morelco S.A. is a company dedicated to the
construction, installation, operation and maintenance of civil works and
electromechanical assembly with presence in Colombia and Ecuador.
Morelco S.A. is one of the most important companies providing services
of construction and electromechanical assemblies in Colombia,
specializing in Oil & Gas, energy and water sanitation sector. With more
than 36 years of history, it has a backlog of $ 500 million and
currently participates in the projects of maintenance of pipelines in
the west of Colombia, Acacías water treatment system, Esmeralda Refinery
in Ecuador, Termotasajero, Cartagena modifications Tanks. It is
estimated that in 2014 its revenues will amount to US $ 250 million.
Moreover, it has executed several projects throughout Colombia including
maintenance of pipelines, water treatment plants, power generation
plants, fire systems and facilities for the modernization of industries
such as paper, chemical plants, food plants, etc.
International development of Graña y Montero
Founded in 1933, the Graña y Montero Group is a publicly traded company
listed on the Lima Stock Exchange and New York Stock Exchange, and is
the only Peruvian company in its sector with presence in the Peru and
New York stock markets.
The company has participated in the development of major engineering and
construction projects in Peru, in the energy, mining, construction and
housing sectors. Also, it has significant investments in infrastructure
concessions.
Internationally, it has a significant presence in Chile, where in the
third quarter of 2014 it registered revenues for a total of $ 487
million and has recently signed a contract for the construction of the
hydroelectric Ñuble. With this new investment, a similar presence in
Colombia is established and Morelco’s valuable experience in oil and gas
is added. Additionally, outside these countries where it has permanent
presence, the Group is executing major projects in other countries,
especially based upon their experience in the mining sector, such as in
Panama, Bolivia and British Guyana.
Contacts:
Graña y Montero S.A.A.
Juan Jose Arrieta, 511-213-6598
Corporate
Responsibility Officer
jarrieta@gym.com.pe
or
Dennis
Gray F., 511-213-6583
Investor Relations Officer
dgray@gym.com.pe
relacion.inversionistas@gym.com.pe
Source: Graña y Montero S.A.A.
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