RSS Feed Press releases

15 March 2002

Rijswijk – HBG, Hollandsche Beton Groep nv, published provisional key figures for 2001 – in connection with the announcement of the proposed offer by Grupo Dragados – on 5 February 2002. The finalised results presented below are broadly in line with those provisional figures.

11 March 2002

Edmund Nuttall Limited has been appointed as one of three remediation contractors to carry out clean-up work in England and Wales for Lattice Property during 2002.

10 March 2002

Crown prince Felipe of Spain officially opened the M-45 for traffic. This is the latest concession project in which Grupo Dragados takes part. On a daily basis more than 80.000 vehicles will pass the road.

9 March 2002

The Amsterdam establishment of Madame Tussaud's, the world-famous waxworks museum, is undergoing drastic alterations. An additional 250m2 of exhibition area is being created in the space of just ten weeks by working a two-shift rota.

8 March 2002

The rolling landscape round the historic village of Pool in Wharfedale, UK forms the backdrop to one of Nuttall's projects. A listed bridge is to be strengthened during the next few months so that it can carry today's heavier trucks.

7 March 2002

Interbeton [the international group company of HBG] has been awarded the contract for the construction of a quay wall in Durban, South Africa. The project, in joint venture with South African construction companies Grinaker-LTA and BCW, is for the National Ports Authority. The contract value amounts to 33 million euros, of which HBG's share is more than 13 million euros.

6 March 2002

FCI Constructors [part of HBG Constructors] in joint venture with Kiewitt Construction Company and Manson Company, has been awarded the contract for the replacement of the eastern span of the San Francisco-Oakland Bay Bridge, which stretches from Yerba Buena Island to Oakland. The contract value for this project is more than 1.04 billion US dollars, of which 255 million US dollars for HBG.

6 March 2002

Further to the press release of 5 February 2002, Grupo Dragados, S.A. ['Grupo Dragados'] and Hollandsche Beton Groep nv ['HBG'] jointly announce that they have reached agreement on Grupo Dragados' recommended cash offer for all the outstanding ordinary shares in HBG [the 'Offer'].

Not for release, publication or distribution, in whole or in part, in or into, the UK, the US, Canada, Australia or Japan.

Press release of Grupo Dragados and HBG

Madrid / Rijswijk, 6 March 2002

The terms of the agreement confirm the major points which were announced in the 5 February 2002 press release, including the price of €21.25 in cash per HBG ordinary share. Under the terms of the Offer, HBG will declare no dividend for 2001. The offer document relating to the Offer [the 'Offer Document'] will contain the terms of the Offer, the conditions subject to which the Offer will be declared unconditional ['gestanddoening'] and the calendar of events.

5 March 2002

Recycling of ink cartridges and toner kits for printers and fax machines is already fairly well-established in Western Europe. In Central and Eastern Europe, recycling is now also slowly getting off the ground. And Tebodin [HBG's consultants & engineers] is helping the process along.

4 March 2002

HBG Construction has been awarded a £7.7 million contract to provide two new buildings at the University of Lancaster. The design and build contract involves construction of research and teaching facilities for the University and the National Environment Research Council [NERC], and refurbishment of additional buildings. The project includes provision of controlled environment rooms, clean rooms, laboratories and 15 glasshouses. Completion will be in July 2003.

3 March 2002

No wonder the HBG Civiel workers whistle while they work in the Western Scheldt Tunnel in the South of the Netherlands. The tedious job of spraying the concrete lining on the tunnel walls is being undertaken by their new workmate, who never takes a break and never complains. How come? Because it's a robot! HBG developed the machine in conjunction with another construction firm forming part of the joint venture responsible for the project.

2 March 2002

The UK Atomic Energy Authority has signed a deal with six companies to decommission the fast reactor and associated pipework at Dounreay in northern Scotland.

1 March 2002

Tunnelling beneath the Western Scheldt Estuary has been completed. After 28 months, tunnelling machine Neeltje Suzanna finally surfaced again in January, attracting considerable interest.

15 February 2002

Operating result [EBIT] in 2003 more than doubled to at least €200 million.

Programmes of change will produce a structural improvement in profitability, amounting to approximately €135 million annually from 2003 onwards, as a result of:

  • Improved operational performance: approx. €70 million
  • Savings from strategic sourcing and supply chain management: approx. €40 million
  • Reduced overheads due to changes at the corporate centre and introduction of service units at national level, including general savings: approx. €25 million
  • Change in the organisational structure of the Group – from a geographical organisation of group companies to a divisional one.
  • Strategic decisions involving acquisition or disposal of activities only after improvement in results in the Construction & Property and Civil Engineering sectors.
  • Medium term: evaluation of the portfolio of activities with a view to market leadership in those markets and market segments that are strategically important to HBG.
  • Operating result in 2003 more than doubled to at least €200 million

Rijswijk – HBG’s strategic reorientation will result in an EBIT margin of four per cent in 2003. This corresponds to more than a twofold increase in the operating result [EBIT]. At a meeting for investment analysts in Amsterdam, Mr C.J.A. Reigersman – President of the Board of Management of HBG, Hollandsche Beton Groep nv – announced the launch of a ‘full potential programme’ for HBG aimed at raising profitability as rapidly as possible. The planned action should produce an EBIT of at least €200 million in 2003.

14 February 2002

Rijswijk, the Netherlands – Interbeton bv – the group company of HBG, Hollandsche Beton Groep nv, operating outside Western Europe – has been awarded the contract for the construction of a quay wall in Durban, South Africa.

12 February 2002

After a successful first stage tender, HBG Construction has been appointed to provide pre-construction services for the redevelopment of 3/6 Gracechurch Street and construction of a new nine-storey office building at Gracechurch Street in the City of London for client Universities Superannuation Scheme Ltd.

11 February 2002

Grupo Dragados, Spain's leading construction and services group and HBG have jointly announced on 5 February 2002 Grupo Dragados’ intention to launch a cash offer for all the shares of HBG and thereafter proceed to the integration of the activities of both companies, in order to create a leading European construction and services group.

11 February 2002

HBG Construction has been awarded a £7.7 million contract to provide two new buildings at the University of Lancaster, bringing the company’s current total of university projects to seven.

11 February 2002

HBG Construction has been awarded two further refit and renewal contracts at Marks and Spencer stores.

10 February 2002

Wayss & Freytag is part of a consortium constructing an office building to a cubist design on Hamburg’s waterfront. The Holzhafen, dating from 1724, is the oldest of the historic trading city's harbour basins still in existence. It is the site of the office project Holzhafen Ost. Two more harbour-side projects are planned in the next few years, including residential developments, shops, hotels and restaurants etcetera.

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