SENER Takeover of Mexican Firm III, S.A. de C.V.

Friday, May 07, 2010

In 2007, SENER President, Jorge Sendagorta, signed with III General Manager, Eduardo Bosque, the purchase agreement of the 40% of III, with the compromise of acquiring 100% of the Mexican engineering company in 2010. Since then, SENER and III have been consolidating their relationship until they have culminated this operation with the constitution of the new company III Grupo SENER.

The purchase of the 100% of III by the Spanish engineering company SENER closes a process that began in March 2005, when both companies signed a strategic alliance. By virtue of this alliance, SENER entered the Mexican market with one of the country's main engineering companies, while also promoting III's capacity to contract turnkey projects.

Since then, major joint projects have been implemented in the Power and Process Sector, such as the development of the engineering work for combined cycle plants, turnkey projects, as well as Refinery, Gas and Petrochemical projects. The activities developed by III also encompass projects in the mining-metallurgy field, with important work carried out for AUSENCO and MITTAL.

In addition to activities in the area of Power and Process, SENER has participated in projects in Mexico in the Civil Engineering and Architecture sector, in roads, airports, suburban railways and metros, being some of its main clients: SCT, OHL, FCC, ISOLUX, Grupo Aeroportuario Pacífico (GAP), Fideicomiso de Apoyo al Rescate de Autopistas Concesionadas (FARAC), and Casas Geo, among others. Likewise, it has taken part in transport planification and architecture projects.

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