7 November 2001 - 19:03

Ballast Ham Dredging gets green light

Rijswijk, the Netherlands – The Enterprise Section of the Court of Appeal at Amsterdam this afternoon ruled that HBG, Hollandsche Beton Groep nv, and Ballast Nedam nv could proceed with the implementation of the merger agreement relating to the dredging activities of the two companies with immediate effect. The injunction imposed by the Court on 4 July has been lifted.

The Court took this decision ahead of its judgment to be given at 9.30 a.m.on Thursday 20 December regarding the matters in dispute.

HBG is delighted by the positive decision of the Court. The Group expects the remaining formalities to take about a week before Ballast Ham Dredging bv becomes operational. HBG is convinced that the new dredging company – in which the Group will have a two-thirds interest – will occupy a successful and prominent position in the world dredging market.

Further information:

Arno C. Pronk, HBG Public Relations, +31 70 3722121.