GTI completes takeover HCG

13 February 2001 15:03 - Royal BAM Group nv

Bunnik/Rijswijk – GTI nv and HBG, Hollandsche Beton Groep nv, have reached definitive agreement on GTI’s acquisition of HCG industrieservice bv in Rijswijk.

This is the successful completion of the talks between GTI and HBG announced on 29 September 2000. GTI will finance the acquisition entirely from its own resources and expects HCG to make  a contribution to profits from 1 January 2001.

HCG will be incorporated in the GTI Industry division. As director of HCG, Geert H. Meijer [41] will be responsible for HCG’s integration in GTI. He will succeed Marcel R.M. Estourgie, who will play an advisory role in the integration process in the coming months. Mr Estourgie will remain with HBG. Mr Meijer has been with GTI since 1998, as regional director of GTI Installatietechniek Oost. His previous employers included the Boston Consulting Group. HCG will be integrated in GTI Industry in the coming months and we expect the process to be largely completed  by the end of 2001.

Jan Westerhoud, chairman of the board of GTI: “We are very pleased with the merger of GTI Industry and HCG. The acquisition creates a leading integrated technical services provider in the industrial sector. GTI Industry will have a strong national network of companies able to offer clients a complete package of services. And the takeover will considerably strengthen the mix of activities in the light and heavy processing industry. This substantially reduces the cyclical nature of our industrial division. The acquisition of HCG will increase GTI Industry’s turnover by some EUR 150 million to EUR 400 million. The number of employees will rise by around 1,200 to 3,300.”

The sale of HCG is in line with HBG’s strategy of focusing more on the core building and property development, civil engineering, dredging and consultancy and engineering.

GTI specialises in technical services to the building services, industrial and infrastructure sectors in the Netherlands and Belgium. In 1999, GTI booked a turnover of EUR 900 million and a net result of EUR 23 million. Following the acquisition of HCG, the company employs more than 9,000 staff. The GTI Industry division aims to become the leading group of companies with a coherent and complete package of technical services for the industrial sector.

For further information, please contact:

GTI NV

Peter C.M. Bassa, director of Concern Marketing en Communication, Kosterijland 50, 3981 AJ  Bunnik; postbus 210, 3980 CE  Bunnik, tel: + 31 (0)30 656 94 57; fax: + 31 (0)30 656 94 15, e-mail: info@gti-group.com; internet: http://www.gti-group.com

HBG, Hollandsche Beton Groep NV

Arno C. Pronk, head of Public Relations Generaal Spoorlaan 489, 2285 TA  Rijswijk; postbus 81, 2280 AB  Rijswijk, tel: + 31 (0)70 372 21 21; fax: +31 (0)70 372 25 84, e-mail: apronk@hbg.nl; internet: www.hbg.nl