Royal BAM Group to sell three small subsidiaries active in the pipes and cables market
Bunnik, 4 December 2003 – Royal BAM Group nv plans to sell the shares of three subsidiaries active in the pipes and cables market to Infraspecials bv in a transaction to take effect as from 1 January 2004. The companies concerned are Pevac bv and Petrol Systems & Services bv, both based in Ridderkerk, and BAM NBM Petrol Stations & Industry bv, in Montfoort. The three companies together employ approximately one hundred staff. Their combined turnover amounts to around €15 million. Infraspecials has been set up by the management, Messrs H. Croes and G. Slotman.
Pevac builds structures for the security market as well as access control systems (for example, in car parks). BAM NBM Stations & Industry carries out new-build and alteration work on filling stations and the installation of alternative energy systems as well as food waste disposal systems for the catering trade. Petrol Systems & Services focuses on service and maintenance work on filling stations, energy systems and food waste disposal systems.
Royal BAM Group considers the added value offered by these activities within the Group to be small. Moreover, there is no short-term prospect of the companies being able to meet the profitability criteria set by the Executive Board. The three companies occupy good positions in their specialist markets and will accordingly be able to continue developing independently.
A.C. Pronk, +31 (0)30 659 86 21