BAM in talks with RijnDijk Groep on transfer of BAM Steel Structures

11 October 2004 09:13 - Royal BAM Group nv

Bunnik, Netherlands, 11 October 2004 – Royal BAM Group nv has announced that it is in talks with RijnDijk Groep bv in Eindhoven regarding the transfer of BAM Steel Structures bv in Schiedam. Agreement is expected to be reached on this shortly.

BAM Steel Structures (formerly HSM) has an annual turnover of around €40 million. Among other things, the company builds production modules for the offshore oil and gas industry, as well as civil engineering facilities, such as bridges and roll-on-roll-off platforms for ferry companies.

RijnDijk Groep is an Eindhoven-based holding company accommodating a dozen subsidiaries spread across the Netherlands, and one operating company in Slovakia. RijnDijk Groep’s operating companies are all active in the higher segment of the steel construction market, such as petrochemicals, power plants, railways, large civil engineering projects and the oil and gas market. RijnDijk Groep employs around 400 employees and has an annual turnover of approximately €55 million.

The merger will create a high-quality, specialised steel-processing company. BAM Steel Structures’ alignment with a company engaged in similar activities will result in synergistic advantages, which Royal BAM Group can only offer to a limited extent. This applies to the area of production and exchange of knowledge and experience, as well as to the sales and marketing approach. As far as can be foreseen at present, the merger will have no negative impact on the employees concerned.

The parties are not disclosing details of the selling price.

Further information:

A.C. Pronk, +31 (0)30 659 86 21.