Imtech acquires Norway's 'greenest' technical services provider
(Thomson Reuters ONE) -
Gouda, the Netherlands - Imtech N.V. (technical services provider in Europe)
acquirers Spitsbergen VVS AS, Norway's 'greenest' provider of technical
services. The company record annualised revenues in excess of 4 million euro and
is based at Longyearbyen in the north of the Arctic Circle. This area is
entirely self-supporting as regards energy and will be energy-neutral in 2025.
The company that Imtech is acquiring plays an important role in this setting.
The acquisition contributes directly to earnings per share.
René van der Bruggen, CEO Imtech: 'Spitsbergen VVS fits perfectly into our
existing activities in Norway. The acquisition will further increase our scale
and geographical reach in Norway. But even more important is the unique
knowledge that this new Imtech company possesses in the field of 'green'
technology and also the likely increase in investments in the region of
residence through the exploitation of natural resources and the establishment of
environmental research institutes. As a technology partner Imtech will be able
to display the full spectrum of its added value in this field. It provides an
excellent basis for Imtech's further growth in Norway.'
Profile of Spitsbergen VVS
Spitsbergen VVS AS has more than 20 permanent employees and records annualised
revenues in excess of 4 million euro. The company is headquartered at
Longyearbyen on the Norwegian island of Svalbard in the north of the Arctic
Circle. Spitsbergen VVS was established more than ten years ago and has
developed in this relatively sparsely populated area into the strongest
mechanical engineering company with unique competences in the field of
sustainable technology. The requirements that the polar winter of almost 100
days imposes on energy supplies demand specific sustainable solutions and
technological innovation. This is what makes Spitsbergen VVS the 'greenest'
technical services provider in Norway with unique competences in terms of energy
conservation, thermal heating, energy storage and distribution and specific
technical services concepts.
Synergy
Spitsbergen VVS will form part of NVS Norway. Besides fulfilling the role of a
competence centre for sustainable energy technology in Norway, the company has
attractive growth potential. This stems from the sharply rising investments in
this region for the exploitation of natural resources (oil, gas and other energy
sources) and from firm plans to set up leading environmental research institutes
in the region. These institutes will focus on studying climate changes (e.g.
temperature gradient, ice melting, raising sea levels) as changes in climate
processes happen much faster in this polar region, making it possible to predict
climate effects elsewhere on the globe. Also there is a strong research link
with the University of Tromsø in Svalbard. Co-operation between specialists of
NVS, Spitsbergen VVS, and third parties will enable Imtech to offer its complete
portfolio of technical services in this part of the world.
Further growth in the Nordic region
Imtech acquired NVS at year-end 2008. NVS is one of the largest technical
services providers in Sweden, Norway and Finland with annualised revenues of
approximately 325 million euro. The acquisition of Spitsbergen VVS is part of
Imtech's strategy of reinforcing its position in the Nordic region. In April
2010, Imtech acquired the Norwegian company FCC Sprinkler & Service, a high-tech
sprinkler specialist. Imtech already acquired three smaller companies in Sweden
and Norway in 2009. As is always the case in Norway, the acquisition of
Spitsbergen VVS is subject to the approval of the Norwegian competition
authorities.
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More information
Media: Analysts & investors:
Pieter Koenders Jeroen Leenaers
Manager 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
Imtech profile
Imtech N.V. is a European technical services provider in the fields of
electrical engineering, ICT and mechanical engineering. With approximately
23,000 employees, Imtech achieves annual revenue of more then 4.3 billion euro.
Imtech holds strong positions in the buildings, industry and
infrastructure/traffic markets in the Netherlands, Belgium, Luxembourg, Germany,
Eastern Europe, Nordic, the UK, Ireland and Spain and in the global marine
market. In total Imtech serves 20,000 customers. Imtech offers added value in
the form of 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 Euronext Stock Exchange Amsterdam,
where Imtech is included in the Midkap Index. Imtech shares are also included in
the Dow Jones STOXX 600 index.
[HUG#1423206]
pdf version press release: http://hugin.info/130755/R/1423206/372096.pdf
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