HBG rejects Boskalis bid for dredging activities

30 May 2001 16:59 - Royal BAM Group nv

Rijswijk, the Netherlands – HBG, Hollandsche Beton Groep nv, this morning advised Royal Boskalis Westminster nv that the sale of HBG's dredging activities [or surrender in any other way of HBG's controlling interest in the dredging company HAM] is not consonant with a policy aimed at securing the interests of the company and its stakeholders in the long term.

HBG will therefore not be accepting the offer made by Boskalis for the Group's dredging activities on 7 May 2001.

The Group will be concentrating on the creation of a new company, Ballast HAM Baggeren bv, in which HBG will have a two-thirds interest and Ballast Nedam one-third. In a few weeks' time HBG will be convening an informative shareholders' meeting to explain this strategic decision, which best serves the interests of all stakeholders.

For further information, please contact:

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