Baran Group (TASE: BRAN; Pink Sheets:BRANF.PK) German subsidiary Westmontage will be a partner in a $70 million project to build the electrical and communications systems in Berlin’s new airport. Baran owns 69% of Westmontage, and its share in the project is $20 million.
Westmontage is a partner with French company Areva (Euronext: CEI), a specialist in electrical and control equipment, and German company Elpro, a specialist in electrical work. Westmontage will build the communications infrastructure. Work is scheduled to being in October and will take 30 months.
Baran is a global provider of engineering, technology, and construction solutions.
Baran acquired Westmontage for €3 million six years ago. According to Baran, the company posted a net profit of NIS 1.7 million in 2006.
Published by Globes [online], Israel business news - www.globes.co.il - on September 19, 2007
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