Bilfinger sells offshore divisions to German industrial holding VTC

Bilfinger has previously held 62.5 percent share in the joint venture Bilfinger Mars offshore, which produces steel foundations for offshore wind farms in Szczecin, Poland. The other 37.5 percent are owned by the Polish investment fund Mars, who retains his share. The complete Bilfinger share is now taken over by the German industrial holding VTC from Munich.

In the course of its strategic repositioning, Bilfinger had announced that it would review its portfolio. “In the course of our focus on the industrial sector, activities in the area of offshore wind energy are no longer part of our core business”, says Axel Salzmann, Chief Financial Officer of Bilfinger SE. “We are therefore selling our business activities in the manufacturing and installation of offshore foundations.”

The German construction company also sold its activities in offshore installation. The Dutch Van Oord group takes over this division, meaning that at the moment only the port construction activities remain within the company which is still looking for a buyer.

No further details about the prices were provided.