COWI has divested its minority interest in COVItecma S.A. in Spain to its Dutch partner Tauw.

The agreement took effect in July making Tauw the sole shareholder in COVItecma, which numbers 20 staff at offices in Barcelona and Madrid.  

Mogens Heering, COWI Vice President, Water and Environment, noted that the move keeps in line with COWI's strategy to focus on Sweden and Central and Eastern Europe for expansion in the European marketplace, while scaling back efforts to maintain a permanent presence in Spain.

Heering noted, however, that COWI “will continue to pursue project opportunities in Spain and strengthen its competitive position through longstanding relations with both COVItecma and Tauw.”

COWI and Tauw already have a long track record of collaboration. In 2001, the two companies joined forces with Enviros to share ownership of the UK-based CAT Alliance.

By staff writers
Published: 21.08.2009