Strabag enters Swiss big three

Strabag has acquired Brunner Erben and Astrada, doubling its annual revenue in Switzerland to around EUR 615M (USD 862.7M). With the move it became the third largest construction company in the country.

All involved parties agreed not to release the terms and conditions of the acquisition, in which Strabag has taken ownership of all Brunner Erben and Astrada employees and brands.

“These acquisitions illustrate our strong commitment to the Swiss market and our determination to be a leading player in each of our key countries,” said Hans Peter Haselsteiner, CEO of STRABAG.

“Through these acquisitions, we will nearly double our output volume in Switzerland and are enhancing our presence in Zurich and Bern, two very important regional markets. We are determined to continue to expand our market presence from this level in order to operate nationally across all of Switzerland.”

Approval from the Swiss Competition Commission was still pending as T&TI went to press.