ÅF acquires 100 % of the shares of Iteco Engineering Ltd and strengthen the service portfolio in the field of small hydro power plants, irrigation and road & bridges.ÅF acquires 100 % of the shares of Iteco Engineering Ltd and strengthen the service portfolio in the field of small hydro power plants, irrigation and road & bridges.
With the acquisition of ITECO, ÅF will be number one in these fields on the Swiss market. ÅF is also expanding to Nepal and Tanzania. Iteco Nepal Ltd with currently 35 employees is mainly active in the design of road & bridges, and Iteco Consult Tanzania is providing similar services with 19
"The combination of ITECO's and ÅF's competences, allow us to offer the full range of services for small hydro power plants in Switzerland and internationally," says Hubert Hosp, Managing Director in
"ITECO with its two subsidiaries are fully in line with our strategy to grow e.g. in India and neighboring countries. The daughter company in Nepal is active in fields like road and bridges and in agriculture, which will enrich ÅF's portfolio," Hubert continues.
ITECO was founded in 1982 as a Company for International Technical Cooperation and Development in the field of infrastructure, mainly small hydro power and road & bridges. In the home
market in Switzerland, ITECO is one of the 5 leading engineering companies, which are able to design and realize small hydro power plants completely independent.