German construction group called as the Hochtief plans to make more acquisitions in countries like India and Canada. The plans in India and Canada will be costing the company total to about hundreds of millions of euros. The deal of planning in India and Canada was revealed by the boss of Hochtief called Frank Stieler during an interview on Saturday.The weekly Wirtschaftswoche quoted the Stieler over the plan and he even stated that he had no fear of the economic crisis.
The company has been well equipped across the 2world and Hochtief has been less vulnerable to the economic crisis as they have been protective activity’s. In the west coast of Canada Hoshtief will be acquiring a construction company which has a turnover of about 100 million euros. The activities taken up by Hoshtief has always been helpful in the time of crisis which has been happening globally. Hoshtief has been well equipped globally and thus the economic crisis situation has not made Hoshtief vulnerable stated Stieler during the meeting.
Further the Hoshtief is even planning to buying some of the engineering groups in India which would be costing another hundreds of millions euros. The net profit of Hoshtief for the quarterly was reported in month of august to be about US $20 million and has maintained the targets. When compared to the present year 2011 the amount was about euro 756.6 million and the net profit of the previous year was about euro 546 million.