ACS

Companies, Ibex, Spanish economy 14th December 2022

ACS, Acciona consortium goes up against FCC in one of the biggest tenders currently in the UK; the remodelling of the Haweswater Aqueduct

Link Securities | The alliance of ACS and Acciona is going up against FCC in one of the biggest tenders there are currently in the UK: the remodelling of the Haweswater Aqueduct, located in the north east of England, according to elEconomista.es. The Spanish firms form part of the terna selected by the UK water company United Utilities to bid for the contract for the design, construction, financing and maintainenance,…

Companies, Ibex, Spanish economy 12th December 2022

ACS wins $1 B contract in US

Bankinter | ACS has won a contract to build a factory for electric car batteries for Ascende Elements, with a budget close to $1 billion. This contract is the second one that ACS’ US subsidiary Turner has won this year in the electric batteries market. Bankinter analyst team’s view: This is positive news for ACS which continues to show how strong its business is and the growth capacity of its…

Companies, Ibex, Spanish economy 29th November 2022

ACS and its Atlantia partners will approve €1 B injection for Abertis

Intermoney | ACS, along with its partners in Atlantia, will tomorrow approve at an EGM a 1 billion euros injection of cash for Abertis. The aim of the move is to provide the concessionary with more ammunition for new investments, according to the daily elEconomista. Meanwhile, the company is also analysing opportunities for refinancing its debt, in the face of rising interest rates. That said, it is still benefiting from…

Companies, Ibex, Spanish economy 21st November 2022

ACS forms the consortium YTK with some US firms to build a factory in Ohio for electric vehicle batteries

Link Securities | Asian industrial firms Honda and LG Energy have commissioned the construction company Turner, a subsidiary of ACS, to build a factory for electric vehicle batteries in the county of Fayette, Ohio (US), according to today’s Cinco Dias. The initial budget for the installation is $3.5 billion (some 3.380 billion euros) of the $4.4 billion (some 4.245 billion euros) being considered for the whole initiative. ACS’ partners in…

Companies, Ibex, Spanish economy 1st November 2022

ACS recapitalises Abertis with €1B to enable it to acquire new funds or assets

Renta 4 | ACS, in agreement with Atlantia, have decided to write-off 1 billion euros of Abertis’ debt, allowing its own funds to increase by 40% and providing it with some support to tackle new investments. Valuation: News with no impact. We do not rule out that they continue to make moves which allow Abertis to obtain funds or assets which increases its position in the motorways business. Reiterate HOLD….

Companies, Ibex, World economy 27th October 2022

ACS hikes stake in Texas motorway SH-288 to 78.38%; buys 12% more for €250 M

Norbolsa | ACS has reached an agreement with Clal Insurance via its subsidiary Iridium for the purchase of an additional 12.11% in the toll motorway concession SH288 in Texas. The cost is approximately 250 million euros. With this deal, the Spanish group strengthens its position as core shareholder in the motorway, now holding 78.38% of the capital invested in the project. This includes the financing, design, construction and operation of…

Companies, Ibex, World economy 30th September 2022

ACS participating in two consortiums for Canada tram line contract; investment of €3.7 Bn

Intermoney | ACS is participating in the two consortia which will bid for the contract to build a tram line in Calgary (Canada). The investment required will be 3.7 billion euros, according to the daily Expansion. One of the offers includes ACS’ US afffiliate Flatiron, while Dragados is participating in the other bid, along with Acciona and other Canadian contractors. It is foreseen that the best provisional offer will be…

Companies, Ibex, Relevant News Item 21st September 2022

ACS reaches agreement with Texas Transport Department to renovate a bridge for an investment of €1B

Intermoney | ACS (ACS) (Buy, Target Price 40 euros/share) would have reached an agreement with the Texas Transport Department (TxDOT) related to the contract to renovate a bridge in Corpus Christi, according to the daily Cinco Dias. The investment required is 1 billion euros. The initial contract had been signed in 2015, but since then various problems with the design have appeared which have delayed the work being carried out. Faced with…

Companies, Ibex, Spanish economy 1st September 2022

ACS takes control of Houston highway for €900 mn

Link Securities | Iridium, a concessions subsidiary of ACS, via its US arm ACS Infrastructure Development, Inc., has reached an agreement to buy 44.5% of US firm Blueridge Transportation Group (BTG). The latter is the concessionary company for a 17 km segment of the SH-288 highway in Houston, Texas, which includes on the central reservation two toll lanes in each direction. After this acquisition, ACS’ stake in the BTG will…

Companies, Ibex, Spanish economy 31st August 2022

ACS signs two new contracts worth €800 mn in the US; already obtains over half its revenues there

Intermoney | According to today’s Expansion, ACS (Buy, T.P. 40 euros/share) is beefing up its works portfolio in the US, after signing two new contracts in California with a budget of 800 million euros. Through Flatiron, one of its main subsidiaries in the US along with Turner and Dragados, the Spanish firm has teamed up with local group Myers & Sons to reformulate the current motorway Interestatal 105 (I-105) in…

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