March Construction Limited 3.1

New Zealand company March Construction recently announced that Soletanche Freyssinet, a subsidiary of VINCI, a world's leading construction and concessions company, has acquired a 55% shareholding in the firm from the March family.

March Construction Managing Director Guy March says, "This is a significant milestone for our 40-year-old business and the New Zealand civil construction industry."

"The investment by Soletanche Freyssinet will give March Construction access to world-leading experience, equipment and technologies unrivalled in the New Zealand construction business."

"It is also notable that this is the first time a company as significant as VINCI has invested in New Zealand's construction sector. March now has the largest financial backing of any construction company in New Zealand."

VINCI is listed on the CAC-40 in France and is ranked 183 in the Fortune 500 list of global corporations.