Spanish Firm Clinches Ground Handling Deal
Posted on: Wednesday, 24 August 2005, 06:00 CDT
AN AIRPORT ground handling business with more than 1,500 staff in the UK was today acquired for 646million euros (pounds 437.7million) by Spanish company Ferrovial.
Swissport International, which provides more than 170 airports worldwide with passenger and cargo handling services, is being sold by private equity group Candover after more than three years under its ownership.
In the UK, Ferrovial will acquire full ground handling operations, such as baggage handling and aircraft parking services, at Newcastle, Manchester, Birmingham, Gatwick and Stansted as part of the deal.
It also carries out cargo-based work at London's Heathrow Airport.
Ferrovial already manages Bristol and Belfast airports, as well as the support services firm Amey, and said today's deal would bolster its position in services work, where it generated revenues of more than pounds 1.5billion in 2004.
Source: Coventry Evening Telegraph
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