Budimex with 120 mln deal

WSE-listed builder Budimex signed a PLN 120.6 million net contract for construction of an airplane motor service and repair facility with Xeos, the company said in a market filing. The plant will be built in Środa Śląska, and the construction should last until November next year. The plant will service GEnX 2B engines used by Boeing in its 747-8 and 777-X planes. The factory will employ 600 people and the total value of the investment is estimated at PLN 1 billion. Budimex, controlled by Spanish Ferrovial, has been listed on the Warsaw Stock Exchange since 1995. In 2016, the company had PLN 5.57 billion in consolidated revenue. Xeos is a joint venture company formed by GE Aviation and Lufthansa Technik.