Imtech strengthens position in Finland
(Thomson Reuters ONE) -
Gouda - Royal Imtech N.V. (IM AE, technical services provider in and outside
Europe) announces that it has strengthened its position in Finland through the
acquisition of two related companies, namely the technical services providers
SSR and Polar. With some 50 employees, both companies realise annual revenue of
around 15 million euro. The acquisition price of five times the company's EBITA
will be paid in cash. The acquisition contributes directly to the earnings per
share. The acquisition allows Imtech to strengthen its position in Finland in
both the traffic & infrastructure as well as the industrial market.
René van der Bruggen, CEO Imtech: 'Imtech occupies a strong position in the
traffic market in Finland. The SSR acquisition makes it possible to further
strengthen this position and expand towards the infrastructure market. The
acquisition of Polar strengthens our relatively modest industrial position.
Cooperation with existing Imtech companies will lead to growth. In this way we
are working step-by-step to build a strong position in Finland.'
SSR and Polar Profile
Polar was established in 1985 and SSR in 1972. SSR was acquired by Polar in
1988. Since that time, each company has worked within its own specialisation and
competence and own market segment from a joint office in Kemi, situated to the
north of the Gulf of Bothnia. SSR also has a site in Loimaa, approximately 100
km from Helsinki. For efficiency reasons, both companies use the same back
office support.
SSR is active in the traffic and the public lighting markets. It distinguishes
itself by offering total solutions and is characterised by its total approach
based on design, engineering, implementation and maintenance. In the traffic
market, SSR is active in sectors including traffic controllers, information
systems, urban traffic systems, motorway systems, automatic barriers, traffic
systems and camera technology. In the public lighting market, SSR is involved in
street lighting and in the lighting of stadiums and public areas. SSR works
across the whole of Finland. Customers include both the national government and
municipalities, as well as civil contractors such as Destia and Skanska, and
private parties such as Eltel Networks, specialising in traffic technology.
Polar specialises in process automation in sectors including infrastructure,
energy, mining, steel, wood processing and the chemical industry. The total
approach to design, engineering, systems, testing, implementation and
maintenance also characterises Polar. Polar works with a broad range of
automation solutions (process automation, PLC, SCADA) from various suppliers,
which guarantees an independent approach. Polar is active across Finland, with
customers in both the public as well as the private sector. Recently opened
mines for steel, nickel and gold in Northern Finland form a growth market.
Synergy
SSR and Imtech Traffic & Infra already work together on various Finnish traffic
projects, including tunnels. In both the urban traffic market as well as
motorway systems, SSR and Imtech are complementary. The same applies to the
process automation area. The infrastructure market position can be expanded
further through cooperation, mainly from within the Netherlands, for example by
managing the entire public lighting in cities, as well as energy-efficient
lighting. Under the wings of Imtech's financial strength, a step can be made
towards offering integrated, complete maintenance processes for both traffic as
well as public lighting. Governments can improve their operations considerably
with this.
At Polar too, synergistic cooperation is the future as far as process automation
is concerned. Additionally, further cooperation can take place on existing
Imtech industrial activities in Finland.
Cooperation leads to further growth, both for the acquired companies as well as
within the existing Imtech portfolio.
Continuity
The entire management will remain in office, thus safeguarding the continuity of
both companies.
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More information Imtech
Media: Analysts & Investors:
Pieter Koenders Jeroen Leenaers
Director Corporate Communications Manager Investor Relations
T: +31 655 74 65 85 T: +31 182 54 35 04
E: pieter.koenders(at)imtech.eu E: jeroen.leenaers(at)imtech.eu
www.imtech.eu www.imtech.eu
Imtech profile
Royal Imtech N.V. is a European technical services provider in the fields of
electrical solutions, ICT (information and communication technology) and
mechanical solutions. With 28,600 employees, Imtech achieves annual revenue of
more than 5.1 billion euro. Imtech holds strong positions in the buildings and
industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria,
Eastern Europe, Sweden, Norway, Finland, the UK, Ireland, Turkey and Spain, the
European markets of ICT and Traffic as well as in the global marine market. In
total Imtech serves 23,000 customers. Imtech offers added value with integrated
and multidisciplinary total solutions that lead to better business processes and
more efficiency for customers and the customers they, in their turn, serve.
Imtech also offers solutions that contribute towards a sustainable society, for
example in the areas of energy, the environment, water and mobility. Imtech
shares are listed on the NYSE Euronext Amsterdam, where Imtech is included in
the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600
index.
pdf version of press release:
http://hugin.info/130755/R/1623195/518817.pdf
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Source: Imtech via Thomson Reuters ONE
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