Ferrovial
Encyclopedia
Ferrovial, S.A. is a Spanish multinational
company
involved in the design, build, financing, operation (DBFO) and maintenance of transport, urban and services infrastructure. It is a publicly-traded
company and is part of the IBEX 35
market value-weighted
stock market index
. The company is headquartered in Madrid
.
Ferrovial has total sales of €12.169 billion and 100,995 employees.
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
company
Economy of Spain
The economy of Spain is the twelfth-largest economy in the world, based on nominal GDP comparisons, and the fifth-largest in Europe. It is regarded as the world's 20th most developed country....
involved in the design, build, financing, operation (DBFO) and maintenance of transport, urban and services infrastructure. It is a publicly-traded
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
company and is part of the IBEX 35
IBEX 35
The IBEX 35 is the benchmark stock market index of the Bolsa de Madrid, Spain's principal stock exchange. Initiated in 1992, the index is administered and calculated by Sociedad de Bolsas, a subsidiary of Bolsas y Mercados Españoles , the company which runs Spain's securities markets...
market value-weighted
Market value-weighted index
A capitalization-weighted index is an index whose components are weighted according to the total market value of their outstanding shares. Also called a market-value-weighted index...
stock market index
Stock market index
A stock market index is a method of measuring a section of the stock market. Many indices are cited by news or financial services firms and are used as benchmarks, to measure the performance of portfolios such as mutual funds....
. The company is headquartered in Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
.
History
The company was founded by Rafael del Pino y Moreno in 1952 as a railroad construction company called Ferrovial, from the Spanish word for "railroad".- In June 1995, Ferrovial acquired 98.27% of Agromán, another leading Spanish contractor.
- In February 1998, Ferrovial set up CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
. Presided over by Rafael del Pino Calvo-SoteloRafael del Pino Calvo-SoteloRafael del Pino Calvo-Sotelo, Executive Chairman of Ferrovial, graduated as a civil engineer from the Polytechnic University of Madrid . He also holds an MBA from the MIT Sloan School of Management...
, Cintra originally comprised three business lines: Car Parks, Toll Roads and Airports (the latter would eventually be separated from the other two business lines).
- In April 2000, Ferrovial bought 58.5% of the Polish construction company Budimex Dromex S.A., which led to Budimex strengthening its position in the Polish market. Budimex Dromex is now the biggest contractor (roads, buildings and pipe systems) in Poland. Ferrovial has now implemented a programme allowing Polish workers to work in Spain for at least a year to learn EU standards.
- In December 2000, Ferrovial acquired Bristol Airport in Southwest England.
- In January 2002, Joaquín Ayuso was appointed CEO of the Ferrovial group. Santiago Bergareche remained on the Board and was appointed Vice Chairman.
- In June 2002, Ferrovial acquired the concession for Sydney airport, the largest airport in Australia.
- In April 2003, Ferrovial acquired Amey plcAmey plcAmey plc, previously known as Amey Ltd and Amey Roadstone Construction, is a United Kingdom based infrastructure support service provider. It was once listed on the London Stock Exchange but since 2003 it has been a subsidiary of Spanish company Grupo Ferrovial, S.A....
, a British contractor and major investor in Tube LinesTube LinesTube Lines Limited, initially known as 'Infraco JNP', has been a wholly owned subsidiary of Transport for London since May 2010. Tube Lines is an asset-management company responsible for the maintenance, renewal and upgrade of the infrastructure, including track, trains, signals, civil work and...
, one of the two public-private partnershipPublic-private partnershipPublic–private partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies...
companies responsible for the maintenance of London Underground'sLondon UndergroundThe London Underground is a rapid transit system serving a large part of Greater London and some parts of Buckinghamshire, Hertfordshire and Essex in England...
lines and rolling stockRolling stockRolling stock comprises all the vehicles that move on a railway. It usually includes both powered and unpowered vehicles, for example locomotives, railroad cars, coaches and wagons...
.
- In May 2003, Ferrovial acquired Belfast City Airport.
- In August 2005, Ferrovial acquired 100% of Texan group Webber, specializing in civil engineering infrastructure, recycling of aggregates and extraction and supply of sand in Texas.
- In August 2005, Ferrovial acquired Swissport InternationalSwissportSwissport International Ltd. is a Swiss company headquartered in Glattbrugg, Opfikon, Switzerland. Owned by PAI, Swissport International Ltd. provides ground services for around 100 million passengers and 3.2 million tonnes of cargo a year on behalf of some 650 client-companies in the aviation...
from Candover Partners Ltd. for 336 million euros. Swissport provides ground services for over 70 million passengers and 3.2 TgTeragramTeragram may refer to:* 1012 grams, equivalent to a megatonne. See Orders of magnitude * Teragram Corporation...
of cargo a year on behalf of some 650 client companies.
- In June 2006, a Ferrovial-led consortium purchased the British company BAA Limited, for 10 billion pounds. BAA owns and operates seven British airports, including London Heathrow AirportLondon Heathrow AirportLondon Heathrow Airport or Heathrow , in the London Borough of Hillingdon, is the busiest airport in the United Kingdom and the third busiest airport in the world in terms of total passenger traffic, handling more international passengers than any other airport around the globe...
, and operates or carries out retail management in several others.
- In November 2006, BAA sold its stake in Bristol airport to Maquarie.
- In March 2007, Ferrovial finalised the sale of its stake in Sydney Airport. MAp exercised its call option on Ferrovial Airports' 20.9% stake in Sydney Airport for the agreed price of A$1.009 billion (around 607 million euros).
- In May 2007, Ferrovial announced changes in its corporate structure. Iñigo Meirás, former Head of the Services Division, was appointed CEO of the new Airports Division. Santiago Olivares, who was head of the international area of the Services division and CEO of the handling subsidiary, Swissport, was appointed CEO of Ferrovial Servicios. Enrique Díaz Rato, then CEO of Cintra, was appointed to head the Toll Roads & Car Parks Division.
- In November 2007, BAA finalised the sale of its stakes in 6 Australian airports to Hastings Fund Management Limited for approx. 495 millions euros.
- In March 2008, BAA announced the sale of World Duty Free Europe (WDF) to Autogrill for 546.6 million pounds. This deal was finalised on 21 May 2008. Autogrill paid an additional 15.75 million pounds in accrued interest payments
- In March 2008, BAA announced the sale of 33 properties of Airport Property Partnership (APP) to Arora Family Trust, a private group, for 265 million pounds.
- In September 2008, Ferrovial Airports Division sold Belfast City Airport Limited to ABN Amro Global Infrastructure Fund / Faros Infrastructure Partners LLC for 132.5 million pounds.
- In September 2008, BAA announced it had put Gatwick Airport up for sale.
- On 7 July 2009, Ferrovial subsidiary AmeyAmey plcAmey plc, previously known as Amey Ltd and Amey Roadstone Construction, is a United Kingdom based infrastructure support service provider. It was once listed on the London Stock Exchange but since 2003 it has been a subsidiary of Spanish company Grupo Ferrovial, S.A....
and the UK's Birmingham City Council announced financial close on the £2.7bn Birmingham Highways private finance initiative (PFI) scheme.
- On 27 July 2009, Ferrovial subsidiary CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
completed the sale of its 99.92% stake in subsidiary Cintra Aparcamientos, S.A. to a consortium for 451 million euros, including bank debt.
- On 20 October 2009, Ferrovial's shareholders agreed to the appointment of Íñigo Meirás as the new CEO, relieving Joaquín Ayuso who was subsequently named Vice-Chairman of the group. Two days later, Cintra's shareholders approved the Cintra-Ferrovial merger project.
- On 21 OCtober 2009, BAA reached an agreement to sell London Gatwick airport to an entity controlled by Global Infrastructure Partnership for 1.510 billion pounds.
- Ferrovial's majority-owned subsidiary CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
was reacquired in full in December 2009. The deal was structured as a reverse takeoverReverse takeoverA reverse takeover or reverse merger is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public...
(despite both companies being publicly-traded), resulting in Ferrovial taking Cintra's stock market listing and ISIN code. The new company began trading on 7 December 2010 as Ferrovial S.A.
- On 17 December 2009, NTE Mobility Partners LLC, a consortium in which CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
has a majority stake, completed raising 2 billion dollars to finance the North Tarrant Express Managed Lanes project in Texas.
- On 29 December 2009, CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
sold 60% of its Chilean subsidiary to ISA for 209 million euros.
- On 23 January 2010, Ferrovial subsidiary Budimex, through concession company Autostrada Poludnie suspended the project with the Polish government to build the A1 toll road.
- On 29 January 2010, Ferrovial Subsidiary BAABAABAA may stand for:*Batting average against in Major League Baseball*BAA Ground, a now defunct cricket venue in Rangoon, Burma*BAA Limited Ferrovial, formerly BAA plc, originally known as the British Airports Authority...
announced the completion of a £500m equity injection into the group's London airports.
- On 5 March 2010, Ferrovial Agroman announced a design and build contract to build Heathrow Airport's new T2A Terminal for 812 million pounds along with UK construction company Laing O'Rourke.
- On 2 June 2010, Ferrovial was presented with the EC's International Cooperation Award for Sustainable Development for its 'Maji ni Uhai' project in Tanzania.
- On 17 June 2010, LBJ Infrastructure Group, a consortium in which Ferrovial subsidiary CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
has a majority stake, secured the placement of Private Activity Bonds, the last phase of the 2.78 billion dollars financing for the LBJ highway in Texas.
- On 23 June 2010, Ferrovial published its worldwide carbon footprint of 1,953,510 tonnes of CO2 equivalent (2009).
- On 27 June 2010, Transport for London completed the deal to purchase PPP contractor Tube Lines from Ferrovial for £310m.
- On 1 July 2010, Ferrovial subsidiary AmeyAmey plcAmey plc, previously known as Amey Ltd and Amey Roadstone Construction, is a United Kingdom based infrastructure support service provider. It was once listed on the London Stock Exchange but since 2003 it has been a subsidiary of Spanish company Grupo Ferrovial, S.A....
acquired the national rail consultancy of WYG Engineering Limited (‘WYG’), part of the WYG Group (formerly, White Young Green).
- On 21 July 2010, Ferrovial sold its 50% stake in Autopista Trados 45 for 67 million euros.
- On 1 September 2010, Ferrovial Servicios subsidiary AmeyCespa acquired Dickerson Group, including its U.K. waste management company Donarbon, for 48.6 million pounds.
Ferrovial Group Companies (whole or majority owned)
| Sector | Country | Corporation | Assets |
|---|---|---|---|
| Services |  United Kingdom |
Amey Plc Amey plc Amey plc, previously known as Amey Ltd and Amey Roadstone Construction, is a United Kingdom based infrastructure support service provider. It was once listed on the London Stock Exchange but since 2003 it has been a subsidiary of Spanish company Grupo Ferrovial, S.A.... |
|
| Airports infrastructure | United Kingdom |
BAA | Aberdeen Airport Aberdeen Airport Aberdeen Airport is an international airport, located at Dyce, a suburb of Aberdeen, Scotland, approximately northwest of Aberdeen city centre. 2.76 million passengers used Aberdeen Airport in 2010, a reduction of 7.4% compared with 2009, making it the 15th busiest airport in the UK... (Ownership and operator) |
| Edinburgh Airport Edinburgh Airport Edinburgh Airport is located at Turnhouse in the City of Edinburgh, Scotland, and was the busiest airport in Scotland in 2010, handling just under 8.6 million passengers in that year. It was also the sixth busiest airport in the UK by passengers and the fifth busiest by aircraft movements... (Ownership and operator) Note: The UK Competition Commission has ruled that BAA must sell either Edinburgh or Glasgow no later than March 2011. |
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| Glasgow International Airport Glasgow International Airport Glasgow International Airport is an international airport in Scotland, located west of Glasgow city centre, near the towns of Paisley and Renfrew in Renfrewshire... (Ownership and operator) Note: See Edinburgh above. |
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| London Heathrow Airport London Heathrow Airport London Heathrow Airport or Heathrow , in the London Borough of Hillingdon, is the busiest airport in the United Kingdom and the third busiest airport in the world in terms of total passenger traffic, handling more international passengers than any other airport around the globe... (Ownership and operator) |
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| London Stansted Airport London Stansted Airport -Cargo:-Statistics:-Infrastructure:-Terminal and satellite buildings:Stansted is the newest passenger airport of all the main London airports. The terminal is an oblong glass building, and is separated in to three areas: Check-in concourse, arrivals and departures... (Ownership and operator) Note: The UK Competition Commission has ruled that BAA must sell Stansted no later than March 2011. |
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| Southampton Airport Southampton Airport Southampton Airport is the 20th largest airport in the UK, located north north-east of Southampton, in the Borough of Eastleigh within Hampshire, England.... (Ownership and operator) |
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| Naples Airport Naples Airport Naples Airport can refer to:*Naples International Airport in Naples, Italy*Naples Municipal Airport in Naples, Florida... (Operator) |
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| Construction |  Spain |
Ferrovial Agromán | |
 Poland |
Budimex | Budimex | |
| Water treatment | Spain |
Cadagua Cadagua The river Cadagua or Kadagua drains the Biscayan area of Encartaciones , from the Castilian valley of Mena to Barakaldo and Bilbao, where it forms the border between these municipalities and ends at the Estuary of Bilbao. Another important town that this river crosses is Balmaseda.The river takes... |
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| Urban & industrial waste | Spain |
Cespa | It was formerly owned by Aguas de Barcelona/Suez. In 2006 it had sales of €823.6m., with 14,508 employees. It operates in Spain and Portugal. |
| Toll road management | Spain |
Cintra | Europistas |
| Ausol | |||
| Autema | |||
| Autopista M-45 | |||
| Autopista R-4 | |||
| Autopista Madrid-Levante Autopista AP-36 The Autopista AP-36 is a highway in Spain south of Madrid.It connects the N-400, Autovía A-4 and Autovía R-4 at Ocaña to the Autovía A-31 at La Roda. It follows the route of the N-301. There are junctions with the N-420 and N-310. The AP-36 was opened in July 2006.- External links:*... |
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| Autopista M-203 | |||
| Eurolink M4 | |||
| 407 ETR | |||
| Euroscut Algarve | |||
| Euroscut Norte Litoral | |||
| Chicago Skyway Chicago Skyway The Chicago Skyway, also known as Chicago Skyway Toll Bridge System, is a toll road in Chicago, Illinois, United States, carrying Interstate 90 from the Indiana Toll Road to the Dan Ryan Expressway on Chicago's South Side leading into the Chicago Loop.... |
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| Indiana East-West Toll Road Indiana Toll Road The Indiana Toll Road, officially the Indiana East–West Toll Road, is a toll road that runs for east–west across northern Indiana from the Illinois state line to the Ohio state line... |
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| SH-130 (segments 5&6) | |||
| Ionian Roads, Greece | |||
| Infrastructure maintenance | Spain |
Ferroser |
Ferrovial has total sales of €12.169 billion and 100,995 employees.
Investments
- Ferrovial owns 100% of CintraCintraCintra, S.A. is one of the largest private developers of transport infrastructure in the world. Its assets are fundamentally toll roads and car parks, in which it has a total investment of €16billion...
, a leading international toll road and car park operator.
- Ferrovial owns a 55.87% stake in airport operator BAA Ltd
- Ferrovial owns 100% of Amey, the UK Services company; 100% of Cespa, the Spanish environmental services, waste treatment and management company; 100% of W.W.Webber, the Texan construction company
- Ferrovial owns 59.06% of Budimex, the Polish constructor.
Major projects
- Major construction projects undertaken by Ferrovial include the Bilbao Guggenheim Museum completed in 1997 and Terminal 4 at Madrid Barajas International AirportMadrid Barajas International AirportMadrid-Barajas Airport is the main international airport serving Madrid in Spain. In 2010, over 49.8 million passengers used Madrid-Barajas, making it the country's largest and busiest airport, and in 2009 it was the world's 11th busiest airport and Europe's fourth busiest airport. It opened...
completed in 2006.
- Ferrovial is one of the sponsors for the much talked about M3 Motorway being built in Ireland, through the Hill of TaraHill of TaraThe Hill of Tara , located near the River Boyne, is an archaeological complex that runs between Navan and Dunshaughlin in County Meath, Leinster, Ireland...
archaeological complex. The Irish Justice ruled in 2007 in favor of the project, which is supported by the Green Party and local communities, as it will give a substantial boost to trade and communications.
- Ferrovial, and its Polish subsidiary Budimex, were placed on GES's watchlist of "companies to engage with or exclude" related to a construction contract on behalf of the Polish government in 2007. The contract was subsequently cancelled by the national government and the matter closed.