Tebodin and Lockwood Greene joint venture to expand global market

Tebodin (www.tebodin.com) and Lockwood Greene (www.lg.com), Spartanburg, South Carolina, announced today they are combining selected resources in Europe and Asia to expand their global network.

The two companies will combine their multiple locations in Germany and Russia to capitalize on their joint capabilities in the industrial markets of those countries.  In addition, existing Tebodin operations in Warsaw, Poland, as well as Lockwood Greene’s in Thailand, Singapore and China locations will be operated jointly, effective January 1, 2003.

‘By combining forces where we already have successful operations, we will further strengthen our mutual capabilities to creatively serve our multinational client needs,’ said Hans Hegger, managing director of Tebodin.

The benefits of the new agreement for both companies was emphasized by Fred Brune, President and CEO, Lockwood Greene: 'This further investment in our partnership with Tebodin broadens the reach of both companies to assist our global clients, not only in the established U.S. and Western European markets, but also in the developing and fast-growing markets of Eastern Europe and the Asia-Pacific region.'

Lockwood Greene is a global business partner for engineering and construction serving manufacturing, process, power and institutional clients. Founded in 1832 with headquarters in Spartanburg, SC/USA, the company employs 3,000 professionals in 30 offices worldwide. As an operating unit of J.A. Jones, Inc., Lockwood Greene also provides the entire life cycle spectrum of services from project development through operations and maintenance services.

Tebodin, Consultants & Engineers, an operating company of Royal BAM Group, is an independent consultancy and engineering firm with annual revenues of €147 million. Tebodin offers clients worldwide the experience and expertise of more than 2,000 staff members in the fields of chemicals, fine chemicals and pharmaceuticals, infrastructure, telecommunications, buildings, oil and gas, food and consumer goods. Tebodin has a network of approximately 40 international offices in Western, Central and Eastern Europe and in the Middle East.

With respect to combining activities in Germany a request for approval is filed with the European Union which is expected in mid-January 2003.

For further information:

A.C. Pronk, telephone +31 70 3722121.