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ACS Fachada

In the World 20th June 2023

ACS strengthens North American presence with €500-million extension of Ontario commuter line in Canada

Intermoney| ACS, through Dragados, in alliance with the Ledcor group, has won the initial works to extend services on the Ontario commuter line (Go Line). The contractors will work on the nearly 20-kilometre Lakeshore East line in the town of Bowmanville. The work includes seven new bridges and grade crossing improvements. Ontario has committed C$730 (about €500 million) to this rail extension. The investment in the Go Line amounts to…

ACS Vinci

Relevant News Item 13th March 2023

ACS wins €2.7 billion contract for nuclear submarine dock at Pearl Harbor

The Spanish group leads a joint venture selected to replace dry dock number 3. The initial scope of the award is $2.839 billion (about €2.665 billion). It may, however, go further. ACS has been awarded this important contract by the US Navy through its construction company Dragados USA and teaming up with local firms Hawaiian Dredging and Orion. The work will take place at the Joint Base Pearl Harbor-Hickam and…

ACS

Companies, Ibex, Spanish economy 29th December 2022

Adif awards ACS, Rover and Tecsa €443 M contract for high-speed train works in Valencia

Link Securities | According to the daily laInformacion.com, Adif Alta Velocidad has awarded the joint venture formed by ACS, Rover and Tecsa the contract to execute the works in the plans for the construction of the new access channel to integrate the high-speed railway in Valencia. Also to extend and remodel the Joaquín Sorolla station and increase its parking area.ç The contract is worth 443,4 million euros, VAT included. It…

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,…

ACS

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…

Abertis

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…

ACS

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…

ACS

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….

ACS

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…

ACS

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…