FCC Group

History

The business was founded as a construction company in Barcelona in 1900, under the name of Fomento de Obras y Construcciones S.A. and became known as FOCSA. It began operations in public services in 1911 with a contract to clean and maintain Barcelona's sewerage network. In 1992 FOCSA merged with Construcciones y Contratas, a company founded in Madrid in 1944 to form Fomento de Construcciones y Contratas, S.A.

Proactiva was a 50–50 joint venture formed in 1999 between Veolia Environnement and FCC, until Veolia bought the other 50 percent share from FCC in 2013.

In September 2006 FCC acquired the British Waste Recycling Group, excluding its landfill gas operations, from Terra Firma Capital Partners for £1.4 billion.

In July 2013, Alpine Bau Holding GmbH, a subsidiary of FCC which had accumulated debt of €2.56 billion and placed €190 million of corporate bonds on the Wiener Börse OTC, went into administration.

In August 2013, FCC sold its subsidiary Alpine Energie, a company of 3,000 employees in the German-speaking Alps that builds and maintains power plants, telecommunications, and traffic infrastructure, to Triton Partners, a private equity company, for just under €100 million ($133 million).

In October 2013, Bill Gates joined the company as a shareholder with a 5.7% stake, reflecting FCC's strong position in sectors linked to his vision of sustainability (Environmental Services and Water). Shortly thereafter, in December of the same year, the financier George Soros became a shareholder of the company with a 3% stake.

In December 2014, FCC carried out a share issue worth €1 billion, facilitating the involvement of business magnate Carlos Slim as a majority shareholder.

FCC was charged with corruption and money laundering by Spain's High Court in October 2019. The charges related to bribes, totalling €82 million ($91 million), to secure transport and hospital contracts in Panama between 2010 and 2014.

Then, in September 2020, FCC was banned from bidding for contracts by the World Bank for two years following the company's involvement with fraudulent and collusive practices in Colombia. The company was required to pay $5.5m in restitution for its illegal activities.

In July 2022, the company was fined €40.4 million, along with five other contractors, by the Comisión Nacional de los Mercados y la Competencia (CNMC) for bidding collusion in public tenders for building and civil infrastructure works.

In January 2023, the National Court suspended, on a precautionary basis, the sanction imposed by the CNMC against FCC Construcción, which consisted of a fine of €40.4 million and a prohibition to contract with public authorities. The measure was taken while the appeal filed by the company was being resolved.

In 2022, FCC joined the SDG campaign launched by the UN Global Compact Spain. As part of the campaign, its members are working to advance the climate change agenda, social equity and other global socially important issues.

In July 2023, FCC's shareholders approved an initial public offering to reduce its share capital by 7 per cent by acquiring more than 32 million shares. The maximum allocation for this task was €400 million. At the same time, some minority shareholders were concerned that the move was preparation for an exclusionary placement that would strengthen the position of large shareholders. The deputy secretary of the board of directors, Felipe Garcia Perez, denied this claim.

Operating in more than 29 countries worldwide, over 47.5% of its turnover comes from international markets, mainly from Europe and the United States.

Structure

Its core activities are environmental services management, end-to-end water cycle management, major infrastructure construction, cement production and real estate management.

the business was divided into the following five major divisions:

• FCC Environmental
• Aqualia
• FCC Construction
• FCC Real Estate
• Cementos Portland

Major projects

Major FCC construction projects have included:

• Torre Picasso in Madrid, completed in 1988
• Gate of Europe, completed in 1996
• Prince Philip Museum of Science in Valencia, completed in 2000
• Torre Caja Madrid, completed in 2008
• Pasajul Basarab in Bucharest, completed in 2011
• New Europe Bridge between Bulgaria and Romania, completed in 2013
• Haren Prison, Brussels, Belgium, completed in 2022

Shareholders

The shareholders are as follows:

References

References

1. "FCC Board of Directors".
2. (12 September 2017). "Pablo Colio, new CEO of the FCC Group".
3. "Annual Report 2023". FCC Group.
4. "Legal warning - FCC".
5. (1 October 2022). "Decarbonization 2022". Observatorio de Sostenibilidad.
6. "History 1991-1993". Fomento de Construcciones y Contratas.
7. "Veolia Environnement signs an agreement with FCC to own 100% of Proactiva". Veolia.
8. "The history of Veolia : 2010 - 2016". Veolia.
9. (28 September 2006). "FCC completes £1.4bn acquisition of Waste Recycling Group". letsrecycle.com.
10. (17 July 2006). "FCC Buys Waste Recycler From Hands for 1.4 Bln Pounds". Bloomberg.
11. Mirco Galbusera. (July 8, 2013). "Austria, fallisce Alpine con buco di 2,6 miliardi".
12. (13 August 2013). "Private equity firm Triton buys Alpine Energie from Spain's FCC". Reuters.
13. "Bill Gates buys 6% of the capital of FCC".
14. (14 November 2014). "Soros fund to become key shareholder in Spanish company FCC". Thomson Reuters.
15. "The FCC capital increase".
16. "Carlos Slim is the majority shareholder of FCC".
17. (31 October 2019). "Spain's High Court charges builder FCC over Panama contracts". Reuters.
18. (1 November 2019). "Spanish courts charge FCC with corruption over Panama projects". Global Construction Review.
19. (30 October 2019). "Spanish company indicted for $91 million bribes to Martinelli frontman Newsroom Panama". Newsroom Panama.
20. (16 September 2020). "World Bank Group Debars FCC Construcción S.A.". World Bank.
21. (18 September 2020). "FCC debarred from World Bank projects over fraudulent Colombian bid". Global Construction Review.
22. (7 July 2022). "Spain's six top builders fined, restricted over bidding collusion". Reuters.
23. (26 January 2023). "La Justicia paraliza de forma cautelar la multa de la CNMC a FCC de 40 millones". La Informacion.
24. (26 January 2023). "La Audiencia Nacional suspende de forma cautelar la sanción de la CNMC a FCC de 40 millones de euros". Europa Pass.
25. "La Audiencia Nacional suspende de forma cautelar la sanción de la CNMC a FCC de 40 millones de euros". Press Digital.
26. (20 September 2022). "Fomento de Construcciones y Contratas S A : FCC Group joins the SDG campaign promoted by the UN Global Compact in Spain".
27. (19 July 2023). "Spain's FCC Approves Buyback of Shares".
28. "Global presence - FCC".
29. "FCC increases its global presence".
30. "FCC's portfolio is diverse and reaches all citizens".
31. "FCC business areas".
32. (nd). "Torre Picasso at Emporis". Emporis GMBH.
33. (30 September 2011). "AD Classics: Puerta de Europa / Philip Johnson & John Burgee". Plataforma Networks Broadcasting Architecture Worldwide ArchDaily LLC.
34. (nd). "El Museu de les Ciències Príncipe Felipe". Wilhelm Ernst & Sohn Verlag.
35. (nd). "Torre Caja Madrid". Wilhelm Ernst & Sohn Verlag.
36. (nd). "Potain a ajutat la ridicarea pasajului Basarab". Masini si Utilaje.ro.
37. (14 June 2013). "FCC inaugurates new Danube Bridge linking Bulgaria and Romania". TheCorner.eu.
38. "Haren Prison, Belgium". Fomento de Construcciones y Contratas.
39. "Official Records of the CNMV on FCC".