Ferrovial

{{Infobox company | name = Ferrovial, S.A. | logo = | type = Sociedad Anónima | traded_as = | foundation = 1952 | founder = Rafael del Pino y Moreno | defunct = | location = Madrid, Spain | locations = | area_served = Spain, Portugal, United Kingdom, Ireland, Italy, Poland, Switzerland, Greece, USA, Canada, Chile | key_people = Rafael del Pino Calvo-Sotelo (Chairman), Iñigo Meirás Amusco (CEO) | industry = Construction, transportation, services | products = | services = Residential, commercial property and infrastructure construction; toll road operation; airport and infrastructure management; waste management; facility management | revenue = €12.17 billion (2010) | operating_income = €3.393 billion (2010)

History

The Company was founded by Rafael del Pino y Moreno in 1952 as a railroad construction company called Ferrovial, from the Spanish word for "railroad".

In June 1995, Ferrovial acquired 98.27% of Agromán, another leading Spanish contractor.

In February 1998, Ferrovial set up Cintra. Presided over by Rafael del Pino Calvo-Sotelo, Cintra originally comprised 3 business lines: Car Parks, Toll Roads and Airports (the latter would eventually be separated from the other two business lines).

In April 2000, Ferrovial bought 58.5% of the Polish construction company Budimex Dromex S.A., which led to Budimex strengthening its position in the Polish market. Budimex Dromex is now the biggest contractor (roads, buildings and pipe systems) in Poland. Ferrovial has now implemented a programme allowing Polish workers to work in Spain for at least a year to learn EU standards.

In December 2000, Ferrovial acquired Bristol Airport in Southwest England.

In January 2002, Joaquín Ayuso was appointed CEO of the Ferrovial group. Santiago Bergareche remained on the Board and was appointed Vice Chairman.

In June 2002, Ferrovial acquired the concession for Sydney airport, the largest airport in Australia.

In April 2003, Ferrovial acquired Amey plc, a British contractor and major investor in Tube Lines, one of the two public-private partnership companies responsible for the maintenance of London Underground's lines and rolling stock.

In May 2003, Ferrovial acquired Belfast City Airport.

In August 2005, Ferrovial acquired 100% of Texan group Webber, specializing in civil engineering infrastructure, recycling of aggregates and extraction and supply of sand in Texas.

In August 2005, Ferrovial acquired Swissport International from Candover Partners Ltd. for 336 million euros. Swissport provides ground services for over 70 million passengers and 3.2 Tg of cargo a year on behalf of some 650 client companies.

In June 2006, a Ferrovial-led consortium purchased the British company BAA Limited, for 10 billion pounds. BAA owns and operates seven British airports, including London Heathrow Airport, and operates or carries out retail management in several others.

In November 2006, BAA sold its stake in Bristol airport to Maquarie.

In March 2007, Ferrovial finalised the sale of its stake in Sydney Airport. MAp exercised its call option on Ferrovial Airports' 20.9% stake in Sydney Airport for the agreed price of A$1.009 billoin (around 607 million euros).

In May 2007, Ferrovial announced changes in its corporate structure. Iñigo Meirás, former Head of the Services Division, was appointed CEO of the new Airports Division. Santiago Olivares, who was head of the international area of the Services division and CEO of the handling subsidiary, Swissport, was appointed CEO of Ferrovial Servicios. Enrique Díaz Rato, then CEO of Cintra, was appointed to head the Toll Roads & Car Parks Division.

In November 2007, BAA finalised the sale of its stakes in 6 Australian airports to Hastings Fund Management Limited for approx. 495 millions euros.

In March 2008, BAA announced the sale of World Duty Free Europe (WDF) to Autogrill for 546.6 million pounds. This deal was finalised on 21 May 2008. Autogrill paid an additional 15.75 million pounds in accrued interest payments

In March 2008, BAA announced the sale of 33 properties of Airport Property Partnership (APP) to Arora Family Trust, a private group, for 265 million pounds.

In September 2008, Ferrovial Airports Division sold Belfast City Airport Limited to ABN Amro Global Infrastructure Fund / Faros Infrastructure Partners LLC for 132.5 million pounds.

In September 2008, BAA announced it had put Gatwick Airport up for sale.

On 7 July 2009, Ferrovial subsidiary Amey and the UK's Birmingham City Council announced financial close on the £2.7bn Birmingham Highways private finance initiative (PFI) scheme.

On 27 July 2009, Ferrovial subsidiary Cintra completed the sale of its 99.92% stake in subsidiary Cintra Aparcamientos, S.A. to a consortium for 451 million euros, including bank debt.

On 20 October 2009, Ferrovial's shareholders agreed to the appointment of Íñigo Meirás as the new CEO, relieving Joaquín Ayuso who was subsequently named Vice-Chairman of the group. Two days later, Cintra's shareholders approved the Cintra-Ferrovial merger project.

On 21 OCtober 2009, BAA reached an agreement to sell London Gatwick airport to an entity controlled by Global Infrastructure Partnership for 1.510 billion pounds.

Ferrovial's majority-owned subsidiary Cintra was reacquired in full in December 2009. The deal was structured as a reverse takeover (despite both companies being publicly-traded), resulting in Ferrovial taking Cintra's stock market listing and ISIN code. The new company began trading on 7 December 2010 as Ferrovial S.A.

On 17 December 2009, NTE Mobility Partners LLC, a consortium in which Cintra has a majority stake, completed raising 2 billion dollars to finance the North Tarrant Express Managed Lanes project in Texas.

On 29 December 2009, Cintra sold 60% of its Chilean subsidiary to ISA for 209 million euros.

On 23 January 2010, Ferrovial subsidiary Budimex, through concession company Autostrada Poludnie suspended the project with the Polish government to build the A1 toll road.

On 29 January 2010, Ferrovial Subsidiary BAA announced the completion of a £500m equity injection into the group's London airports.

On 5 March 2010, Ferrovial Agroman announced a design and build contract to build Heathrow Airport's new T2A Terminal for 812 million pounds along with UK construction company Laing O'Rourke.

On 2 June 2010, Ferrovial presented with the EC's International Cooperation Award for Sustainable Development for its 'Maji ni Uhai' project in Tanzania.

On 17 June 2010, LBJ Infrastructure Group, a consortium in which Ferrovial subsidiary Cintra has a majority stake, secured the placement of Private Activity Bonds, the last phase of the 2.78 billion dollars financing for the LBJ highway in Texas.

On 23 June 2010, Ferrovial published its worldwide carbon footprint of 1,953,510 tonnes of CO2 equivalent (2009).

On 27 June 2010, Transport for London completed the deal to purchase PPP contractor Tube Lines from Ferrovial for £310m.

On 1 July 2010, Ferrovial subsidiary Amey acquired the national rail consultancy of WYG Engineering Limited (‘WYG’), part of the WYG Group (formerly, White Young Green).

On 21 July 2010, Ferrovial sold its 50% stake in Autopista Trados 45 for 67 million euros.

On 1 September 2010, Ferrovial Servicios subsidiary AmeyCespa acquired Dickerson Group, including its U.K. waste management company Donarbon, for 48.6 million pounds.

Ferrovial Group Companies (whole or majority owned)

Ferrovial has total sales of €12.169 billion and 100,995 employees.

Investments

Ferrovial owns 100% of Cintra, a leading international toll road and car park operator.

Ferrovial owns a 55.87% stake in airport operator BAA Ltd

Ferrovial owns 100% of Amey, the UK Services company; 100% of Cespa, the Spanish environmental services, waste treatment and management company; 100% of W.W.Webber, the Texan construction company

Ferrovial owns 59.06% of Budimex, the Polish constructor.

Major projects

Major construction projects undertaken by Ferrovial include the Bilbao Guggenheim Museum completed in 1997 and Terminal 4 at Madrid Barajas International Airport completed in 2006.

Ferrovial is one of the sponsors for the much talked about M3 Motorway being built in Ireland, through the Hill of Tara archaeological complex. The Irish Justice ruled in 2007 in favor of the project, which is supported by the Green Party and local communities, as it will give a substantial boost to trade and communications.

Ferrovial, and its Polish subsidiary Budimex, were placed on GES's watchlist of "companies to engage with or exclude" related to a construction contract on behalf of the Polish government in 2007. The contract was subsequently cancelled by the national government and the matter closed.

Ownership

According to the CNMV (Comisión Nacional del Mercado de Valores), the Spanish Securities Market Commission in charge of supervising and inspecting the Spanish Stock Markets, 44.268% of the shareholding is currently held by Portman Baela, S.L. on behalf of the Del Pino family, and 3.868% is held by Banco Santander, S.A..

References

External links

Official website

Official website

Category:Construction and civil engineering companies of Spain Category:Spanish brands Category:Real estate companies of Spain Category:Multinational companies Category:Companies based in the Community of Madrid Category:Conglomerate companies