Bilfinger announces new cost-savings programme
FRANKFURT, Aug 10 (Reuters) - German engineering services group Bilfinger (Amsterdam: BG6.AS - news) said it would invest more than 50 million euros ($56 million) to harmonise its IT systems and streamline administration in a move designed to improve competitiveness and eventually save money.
Bilfinger said on Wednesday the programme should enable it to save roughly 100 million euros annually, with initial savings in 2017 and the majority in 2018.
($1 = 0.8969 euros) (Reporting by Georgina Prodhan; Editing by Maria Sheahan)