Portugal’s Lena Group buys rival construction firm

24 April 2007

Lisbon, Portugal, 24 April – Portugal’s Lena Group has acquired 100 percent of Construtora Abrantina through its Lena Constuções unit and says it expects to have sale of around 900 million euros this year, some 73 percent more than in 2006.

“With the acquisition of Abrantina and the integration of Lena Indústria ( in the Lena Construções sub-holding), Lena’s building arm will have a turnover of around 600 million euros in 2007, more than double the 251 million euros in 2006”, the company said in a statement.

Lena forecasts combined sales of “900 million euros” in 2007, up 73 percent from the 520 million euros posted in 2006, the statement added.

Abrantina is expected to have sales of 200 million euros this year and 250 million euros in 2008, said the statement, adding that the acquisition was aimed to make Lena one of Portugal’s thee biggest construction groups and consolidate its international presence in Angola, Algeria and Romania and enter the Malaysian market, where Abrantina is already present. (macauhub)