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BAUER : Aktiengesellschaft: BAUER Group signs engineering contract for development of deep drilling rigs (DGAP News)

06/23/2014 | 06:54am US/Eastern
DGAP-News: BAUER Aktiengesellschaft / Key word(s): Agreement/Alliance
BAUER Aktiengesellschaft: BAUER Group signs engineering contract for
development of deep drilling rigs

23.06.2014 / 12:53

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Schrobenhausen - At the end of May, BAUER Deep Drilling GmbH, the deep
drilling specialist subsidiary of BAUER Maschinen GmbH, entered into an
engineering contract with Saxon Energy Services Inc. relating to the
development and manufacture of deep onshore drilling rigs.

International drilling contractor Saxon Energy Services Inc. is a wholly
owned subsidiary of Schlumberger, the world's leading provider of oilfield
services. Saxon chose to enter into the engineering contract based on
Bauer's history of innovative machinery manufacturing, its long-standing
experience in the automation of unconventional drilling rigs and the
flexibility of its development work.

Bauer and Saxon have been cooperating for some time, and that collaboration
will now be intensified further. The engineering contract relates to the
joint development of a deep drilling rig designated ATD 750. The rig, which
will have a hook load of 375 tonnes, is designed for applications in the
oil and gas sector. The design incorporates the highest standards of
mobility, efficiency and automation. Start of production of the first rig
is scheduled for 2015.

Professor Thomas Bauer, Chairman of the Management Board of BAUER AG,
comments: "The cooperation with an established and renowned drilling
contractor such as Saxon marks another major step forward for us in
expanding our deep drilling operations. I am sure that the agreement will
prove highly beneficial to both companies."


About Bauer

Bauer is a provider of services, machinery and products for ground and
groundwater. The Group markets its products and services all over the
world. Its global spread allows it to remain largely unaffected by
fluctuating business cycles.

The operations of the Group are divided into three segments: Construction,
Equipment and Resources. The Construction segment carries out specialist
foundation engineering work for complex excavation pits and foundations on
major infrastructure and building projects all over the world, installing
cut-off walls and carrying out ground improvement works as well as
providing related project development services. Bauer's Equipment segment,
a world market leader, offers a comprehensive range of construction
machinery, equipment and tools for the specialist foundation engineering
sector as well as for other underground drilling operations, such as for
mines, water wells, geothermal energy sources, and oil and gas extraction.
The Resources segment pools the Group's activities in the fields of water,
energy, mineral resources and environmental technology.

Bauer profits greatly from the collaboration between its three separate
segments, enabling the Group to position itself as an innovative, highly
specialized provider of complete solutions and services for demanding
projects on the specialist foundation engineering and related markets.

Founded in 1790, Bauer today generates around three quarters of its total
revenues outside of Germany. Employing some 10,300 people, the Group's
total revenues in 2013 were approximately EUR 1.5 billion (previous year:
EUR 1.44 billion). BAUER Aktiengesellschaft has been listed on the official
market of the Frankfurt Stock Exchange since July 4, 2006 (Prime Standard,
ISIN DE0005168108).


Contact:
Christopher Wolf
Investor Relations
BAUER Aktiengesellschaft
BAUER-Strasse 1
86529 Schrobenhausen, Germany
Phone:   +49 8252 97-1797
Fax:   +49 8252 97-2900
investor.relations@bauer.de
www.bauer.de


End of Corporate News

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23.06.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:    English
Company:     BAUER Aktiengesellschaft
             BAUER-Straße 1
             86529 Schrobenhausen
             Germany
Phone:       +49 (0)8252 97 1218
Fax:         +49 (0)8252 97 2900
E-mail:      investor.relations@bauer.de
Internet:    www.bauer.de
ISIN:        DE0005168108
WKN:         516810
Listed:      Regulierter Markt in Frankfurt (Prime Standard);
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
             München, Stuttgart


End of News    DGAP News-Service
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274694 23.06.2014

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