OHL celebrates its 110th anniversary and embarks on a new era

USA - English

• Latin America - español
• Brazil - Português

MADRID, June 28, 2021 /PRNewswire/ -- OHL, a global infrastructure group, has been in business for 110 years. Its origins date back to May 15, 1911, with the founding of the parent company, Sociedad General de Obras y Construcciones, Obrascón, S.A., in Bilbao (Spain).

Between 1996-1999, it underwent a decisive change of scale, when it took over 11 construction companies. The two most important were Huarte and Lain, giving rise to OHL in May 1999.

In 2002, OHL began its expansion into other markets, achieving an outstanding position in the USA, where it has been present since 2006. Today, OHL USA has more than 2,000 engineering and construction professionals from coast to coast specializing in highways, bridges, rail and mass transit systems, environmental, healthcare and hospitals, K-12 and higher education, among other specialties. One of many notable U.S. projects currently underway is the $1.4 billion design-build contract to perform improvements on California's I-405.The project encompasses the fast-tracked design and construction of 16 miles of two lanes in each direction of interstate highway in Orange County.

OHL has been present for more than 40 years in Latin America promoting concession, industrial and service projects, as well as road, railway, hospital and singular building contracts, among others, in Mexico, Peru, Chile, Colombia and, more recently, Panama.

Ranked 47th on Engineering News-Record's list of the Top 250 International Contractors, the company has a total portfolio of more than $6.1 billion at the end of the first quarter in 2021.

Good governance, sustainability and innovation have been the cornerstones of its growth. In 2003, it made public its commitment to sustainable development as a cross-cutting aspect of its strategy in social, environmental and governance terms. OHL has developed more than 300 R&D&I projects over the last two decades; it has 12 families of patents in force.

OHL's 110th anniversary coincides with the start of a new phase and a reinforced financial situation for the company. Once its refinancing and recapitalization process has been completed, the company reduces its overall debt in about $130 million and strengthen its balance sheet equity in about $220 million.

In addition, the Amodio family, OHL's largest shareholder since May 2020, will strengthen its ownership position. Since June 2020, Mr. Luis Amodio has been the Chairman of OHL's Board of Directors, leading the company into a new era of growth and expansion.

SOURCE OHL

Related Links

https://www.ohl.es