MILAN, 04-May-2018 — /EuropaWire/ — In the context of consolidating its growth strategy in the US large infrastructure business sector, Salini Impregilo is currently evaluating several investment opportunities as well as non-core asset divestments options.
To this end Salini Impregilo has appointed as financial advisor Goldman Sachs to assess strategic options for the Plants and Paving business unit of Lane, one of the largest hot mix asphalt (HMA) producers in the US with more than $600 million of revenues and about 45 plants along the East Coast and in Texas. These alternatives include a potential disposal of the unit.
A potential disposal would help refocus our US organization and free up resources to fund the growth of the core construction business in the US, while at the same time allow to further reduce Group’s gross debt. The Company’s priority remains to maintain a solid capital structure and a sustainably balanced growth with shareholders’ value.
The American construction market continues to provide an excellent source of opportunities and it has been estimated that the equivalent of 4.6 trillion dollars in infrastructure investments will be required in the US by 2025. Last year, Lane, leader in the roads and highways sector in the US registered a record growth with revenues increasing by 16.1% compared 2016 and an order backlog growing by 19% reaching €3 billion.
SOURCE: Salini Impregilo S.p.A.
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