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Comment Business & Economics

BIS Group acquires Neo Group  

By Gerald Ondrey |

With the acquisition of the Neo Group (Surat, India), Bilfinger Berger Industrial Services Group (BIS Group; Munich, Germany; http://www.bis.bilfinger.com) is continuing its internationalization strategy and entering a new and attractive growth market. The Neo Group has around 1,600 employees and generates annual revenues of some €60 million. Its regional focus is on the state of Gujarat, the heart of the Indian process industry; in addition, the Neo Group is also active in the main industrial regions of India. The Neo Group particularly provides maintenance, installation and assembly services for customers in the oil and gas, petrochemicals and energy industries. “Our entry into the Indian market marks a milestone in our ongoing efforts to broaden our international presence”, says Michael Herbermann, CEO of the BIS Group: “The country is characterized by strong economic growth, offering great potential for development particularly in industrial service. The Neo Group addresses the very sectors that our own company focuses on. With this acquisition, we will be creating the basis for establishing ourselves as a firm partner to the process industry in this market of the future.” “The Neo Group’s…
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