Acquisition and management of participations. The company may establish branches in Switzerland and abroad and participate in other companies in Switzerland and abroad, as well as conduct all business directly or indirectly related to its purpose. It may acquire, encumber, sell and manage real estate in Switzerland and abroad, provide financing for its own account or for third-party account, and grant guarantees and sureties for subsidiaries and third parties. The company may also undertake the execution of demolition work, removal and disposal of pollutants of all kinds on buildings, as well as general construction work. Furthermore, it may take over the development and operation of recycling and disposal plants, as well as the recycling of waste and secondary materials, and the manufacture and trade of building materials of all kinds. It may also manage licenses.