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4-Traders Homepage  >  Equities  >  WIENER BOERSE AG  >  Strabag SE    STRV   AT000000STR1

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Strabag, Rio Tinto Sign Partnership Agreement for Tunnel, Shaft Drilling System

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02/22/2013 | 11:12am CET

VIENNA-- Austrian construction company Strabag SE (STR.VI) and Australian mining company Rio Tinto have signed an agreement for a long-term partnership in research and development of Rio Tinto's new tunnel- and shaft-drilling systems, Strabag said Friday.

MAIN FACTS:

-From 2012 to 2014 in the first phase of the two-phased partnership, Strabag will test and help to optimize Rio Tinto's new technology in tunnel and shaft drilling systems at selected construction sites worldwide.

-Currently tests are being conducted at a mine in Australia and are planned for a mine in the U.S. in Salt Lake City. Further testing sites are under consideration, Strabag added.

-After successful completion of the test construction sites, the partnership will move into the second phase: For five years, Strabag will exclusively carry out all of Rio Tinto's construction projects using the new systems.

-Strabag said it is a new entry for the company into the "mechanical propulsion in the mining industry" business segment.

Write to the Vienna Bureau at nicole.lundeen@dowjones.com 
 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

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Financials (€)
Sales 2016 12 814 M
EBIT 2016 371 M
Net income 2016 175 M
Finance 2016 606 M
Yield 2016 3,34%
P/E ratio 2016 18,54
P/E ratio 2017 12,38
EV / Sales 2016 0,25x
EV / Sales 2017 0,25x
Capitalization 3 817 M
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Number of Analysts 7
Average target price 34,6 €
Spread / Average Target -0,37%
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Thomas Birtel Chief Executive Officer
Alfred Gusenbauer Chairman-Supervisory Board
Christian Harder Chief Financial Officer
Andreas Batke Member-Supervisory Board
Miroslav Cerveny Member-Supervisory Board
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