BAUER Group again provides foundations for world's tallest building in Saudi Arabia
Jeddah – In October Saudi BAUER Foundation Contractors Ltd. – a subsidiary of BAUER Spezialtiefbau GmbH – has signed the contract for the enabling works required for the Kingdom Tower in the northern district of the Saudi Arabian city of Jeddah. The Kingdom Tower will succeed the Burj Khalifa – also founded on Bauer piles – as the tallest building in the world. At 1,001 metres, it will be the first skyscraper to break through the kilometre mark.
Professor Thomas Bauer, Chairman of the Management Board of BAUER AG, comments: "This contract demonstrates clients' confidence in our ability to handle large, complex specialist foundation engineering projects. It is great for us to be working on this building."
The enabling works include 270 bored piles of 1.5 and 1.8 metre diameters, which have to be installed into the difficult ground conditions down to depths of 110 metres in order to provide the building's foundations. This challenging task is being carried out using two each of Bauer's state-of-the-art BG 28 and BG 40 pile drilling rigs.
The foundation works are scheduled to begin before the end of December and take about ten months. The contract is worth approximately EUR 25 million.
Bauer is a provider of services, machinery and ancillary products in the earth-working and groundwater fields. The Group markets its products and services all over the world. Its global spread allows it to remain largely unaffected by fluctuating business cycles.
The operations of the Group are divided into three segments: Construction, Equipment and Resources. The Construction segment carries out specialist foundation engineering work all over the world, developing foundation and excavation projects as well as providing related construction services. In its Equipment segment, in which it is the world market leader, Bauer offers an extensive range of machinery, equipment and tools for specialist foundation engineering and related fields of activity. The Resources segment encompasses the Group's operations in the exploitation of raw materials, in environmental technology, in geothermal drilling operations and also in equipment for wells (including pumps and drills, screens and casings).
Bauer profits greatly from the collaboration between its three separate segments, enabling the Group to position itself as an innovative, highly specialized provider of complete solutions and services for demanding projects on the specialist foundation engineering and related markets.
Founded in 1790, Bauer today generates around three quarters of its total revenues outside of Germany. Employing some 9,700 people, the Group's total revenues in 2011 were approximately EUR 1.4 billion (previous year: EUR 1.3 billion). BAUER Aktiengesellschaft has been listed on the official market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard, ISIN DE0005168108).
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