Rijswijk, the Netherlands – HBG, Hollandsche Beton Groep nv, announces that – in relation to the payment of the stock dividend over the reporting year 1999 – 997,111 new ordinary shares in HBG were issued.
Merger creates powerful and well-positioned international construction and dredging group with a market capitalisation of EUR 1.2 billion [NLG 2.5 billion]
Substantial profit growth for the coming years
Statutory merger
Boskalis and HBG Shareholders each to own 50% of the new company
Substantial synergies in dredging, with no compulsory redundancies
Strong balance sheet and cash flow provide platform for accelerated growth
Abundant career development opportunities for employees
Papendrecht, Rijswijk, The Netherlands – Royal Boskalis Westminster nv and Hollandsche Beton Groep nv intend to effect a merger of equals. Boskalis and HBG expect to reach full agreement.
The Museum in Docklands has appointed HBG Construction as the main contractor for the museum project at West India Quay, London E14 in a contract worth £7.4 million.
