BAM reaches agreement on acquisition of Belgian infrastructure builder Betonac
Bunnik, 6 August 2007 – The Royal BAM Group has reached agreement on the acquisition of all the shares of Belgian infrastructure builder Betonac nv, based in Sint-Truiden. The shares are owned by the management. The transaction is expected to be finalised within the next few weeks.
Betonac has an annual turnover of some €100 million and a good operating result. The company has a workforce of around 350. Betonac was set up in 1910 and specialises in concrete and asphalt road building and the construction of infrastructure works such as bridges, tunnels, viaducts, hydraulic engineering structures, earthworks, sewage treatment plants and noise barriers.
Betonac is Belgium's main builder of concrete motorways. It has its own road engineering laboratory and asphalt production plant.
The proposed takeover of Betonac fits in well with BAM?s growth strategy as announced late last year in its strategic agenda for 2007-2009. It will be a substantial addition to the Group's infrastructure activities in the Belgian market, which are already being developed by operating companies Galère and CEI-De Meyer.
The current management team is expected to remain with Betonac for several years to come.
Further information: N.J. de Vries, +31(0)30 659 8556.