Officials at Peruvian infrastructure and engineering company Graña y Montero S.A.A. have announced a binding offer for 70% of Morelco S.A., a Colombian civil and energy services firm facilitating large projects across the region.
“Graña y Montero’s investment confirms our goal of international scale,” said CEO Arturo Serna. “We have found a partner with whom we share values for Colombia;” Morelco executives will maintain a 30% interest while Serna remains in charge of management.
Meanwhile, Juan Manuel Lambarri Hierro, engineering and construction CEO of the Graña y Montero Group, said, “The human capabilities of both companies will generate an option of highly specialized services with regional scope.”
He added that this operation establishes a further step in the international expansion strategy of the Peruvian construction group. “Graña y Montero’s investment in Colombia confirms our goal of developing on an international scale and strengthening key sectors,” said Lambarri.
In January 2011, the Graña y Montero Group acquired from Enersis, Compañía Americana de Multiservicios Limitada (CAM), which is a services company in the power sector, based in Chile and with operations in Brazil, Colombia and Perú. Also, in October 2012, it acquired Vial y Vives S.A., which is a recognized Chilean company specializing in the mining sector in Chile, and in August 2013, it acquired DSD Construcciones y Montaje S.A., which is a Chilean company with an important local and international experience in mining; afterward, these companied merged. This strategy has turned the Peruvian group into a major regional player in the sector of engineering and construction.