In May 2010, HCC made its first international acquisition by taking a controlling stake (66% equity stake) in Steiner AG (Switzerland).

Steiner AG is part of the Switzerland-based Steiner Group. It is the second largest total services contractor in the Swiss Real Estate market. Steiner AG specialises in turnkey development of new buildings and refurbishments and offers services in all facets of real estate construction.This acquisition will help HCC to tap into Steiner’s rich experience and technological competency in constructing world-class green and well-integrated buildings.

With a heritage of 95 years, primarily in the European market, Steiner AG has several landmark works to its credit, including the headquarters of Nestle, Google, World Economic Forum, Terminal T3 of Geneva airport, and several hotels and residential buildings. After the introduction of the Total Services Contractor (TSC) model in 1995, Steiner’s range of services has been steadily refined and expanded. The focus of the TSC business model lies on the dynamic networking of different skills such as real estate development, consulting, engineering, construction and renovation projects, facility management, real estate sales as well as financial engineering. This networking enables consistent optimization of real estate assets throughout their entire life cycle.

Steiner attaches great importance to environmental aspects and sustainable development, as in the case of Business Center Andreaspark, which was built with Minergie Standard (Swiss quality label and sustainability brand).

This transaction serves as a strategic fit for HCC as it equips HCC with a Total solutions capability for a facility at a single source. Access to Steiner’s European technologies will allow HCC to undertake the development and construction of state-of-the art residential and commercial spaces on a turnkey basis in India. This will serve to further augment EPC offerings in India and other markets

This acquisition also provides HCC with a presence for European expansion. It opens the Swiss and European market to HCC’s Engineering and Construction (E&C) business and will help procure greater access to technology and EPC capability.