DGAP-News

ICA Increases Presence in the United States With Acquisition of the Facchina Construction Group

DGAP-News: Empresas ICA, S.A.B. de C.V. /
ICA Increases Presence in the United States With Acquisition of the
Facchina Construction Group

27.06.2014 / 18:43

---------------------------------------------------------------------

MEXICO CITY, 2014-06-27 18:42 CEST (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure
and construction company in Mexico, today announced the completion of the
acquisition of the Facchina Construction Group ('FCG') in the United States.
The acquisition will enable ICA to increase participation in the U.S. market as
part of its international growth strategy.

FCG has a strong presence in the Washington, D.C. metropolitan area and
southern Florida, and was founded by Paul Facchina, Sr. in 1987. Landmark
projects in the Washington, D.C. metropolitan area include the 11th Street
Bridge reconstruction project, the Maryland Intercounty Connector highway
project, and the U.S. Capitol Visitor Center. In Florida, landmark projects
include the New World Symphony Campus Expansion, the American Airlines Arena,
and residential high-rise developments such as the Grove at Grand Bay.

Alonso Quintana, ICA's Chief Executive Officer, said, 'The Facchina Group is
one of the premier medium-sized heavy construction companies in the U.S. Their
business dovetails well with ICA's, and they operate in markets with high
growth potential. ICA's strategy for increasing our international operations
clearly includes the United States. Facchina's management team is strong, and
will continue to lead the company.'

ICA launched an international diversification initiative in 2011, with the
objective of increasing the international share of total construction revenues.
ICA has already expanded its activities in key markets of Latin America,
including Panama, Peru, Colombia, and Costa Rica. The acquisition of FCG now
extends this initiative to the U.S. In the past, ICA participated in key U.S.
infrastructure projects, but has not been active in recent years.

ICA has made an initial payment of US$ 60 million for 100% of the ownership
interests in FCG. Additional payments of up to US$ 40 million could be paid
based upon the company meeting agreed EBITDA targets over the next five years
through 2019, among other conditions. As part of ICA, FCG is expected to be
able to bid on and participate in larger projects than in the past, and be able
to incorporate technologies that will improve efficiency. It will also have
access to additional surety and financing capabilities.