No merger between Boskalis and HBG

9 July 2000 09:57 - Royal BAM Group nv

Papendrecht / Rijswijk, the Netherlands – The merger, between Royal Boskalis Westminster nv and HBG, Hollandsche Beton Groep nv, which was announced mid May, will not take place.

During the last six weeks Boskalis and HBG have carried out the mutual due diligence and also discussed the future of a joint company intensively. It has turned out that Boskalis and HBG have different views on the future of the construction activities – in particular the opportunities and risks in the German construction market – and the strategy in relation to these activities.

Boskalis and HBG have decided in good harmony to end the merger discussions. Both companies will continue to develop their own organisations independently. Boskalis and HBG will keep co-operating for the realisation of large joint venture projects.

Contacts:

Royal Boskalis Westminster nv:

Roel Berends, telephone + 31 78 6969822

Hollandsche Beton Groep nv:

Arno Pronk, telephone + 31 70 3722121