Imtech strengthens position in Turkey's marine market by acquisition of Elkon
(Thomson Reuters ONE) -
Gouda, The Netherlands - Imtech N.V. (technical services provider in Europe and
on the global marine market) is acquiring the Turkish maritime technical service
provider Elkon. Elkon has over 200 employees and realises an annual revenue of
more than 15 million euro. This acquisition contributes directly to the earnings
per share.
René van der Bruggen, Imtech's CEO: 'With the acquisition of Elkon, Imtech
enters the next stage in further internationalising its maritime activities.
Elkon is a technologically advanced company in Turkey with an excellent
reputation and network in the Turkish maritime industry. Turkey is rapidly
developing into an important centre for new building with ships becoming bigger
and more complex. The result is a fast-growing need for new technology. This
offers Imtech the chance to provide its complete high-quality technological and
service package to the Turkish market through Elkon. Moreover, Elkon can export
these solutions and services to countries allied with Turkey. By bringing Elkon
into Imtech's marine portfolio, we have the opportunity to create a great
maritime track record in Turkey as well as the region.'
Elkon's profile
Elkon was founded 30 years ago and has since grown into the most innovative
maritime technological services provider in Turkey. Originally Elkon was mainly
focussed on merchant marine type of ships. In recent years, Elkon is
increasingly involved in the realisation of technology wise more complex
vessels. The core of its activities consists of electrical services like
electrical switchboards and bridge control systems, including the complete
onboard electrical installation. In addition, Elkon has specialised in
automation of engine rooms and alarm, monitoring and control. Elkon has a
renowned reputation and excellent relationships with the Turkish shipbuilders.
This industry is concentrated in Tuzla, a suburb of Istanbul - where Elkon is
located. The management of Elkon will continue their activities in the coming
years, which guarantees continuity.
Maritime strategy
Imtech (Imtech Marine Group) is one of the strongest players in the global
marine market with a revenue of approximately 500 million euro and 2,400
employees. Its strategy is focused on growth, including further geographic
expansion. Thus, Imtech actively anticipates on changes in the global
shipbuilding market. Besides the Middle and Far East, where Imtech already has
several local offices and production facilities, Turkey is also rapidly
developing into important new center for shipbuilding. Ships built in Turkey are
characterised by their competitive quality to price ratio and the Turkish market
is evolving from producing relatively simple ships such as tankers and bulk
carriers to constructing complex vessels such as mega yachts, naval vessels and
offshore related ships. The technological component is thus becoming more
important, since these ships require state-of-the-art electrical and automation
solutions including electrical propulsion. Although Imtech is already involved
in Turkey as technology partner for two ('Milgem Class') corvettes and sixteen
patrol ships ('New Type Patrol Boats') for the Turkish navy, the strategically
need to become a more local player became more and more eminent.
Synergy
During the past few years, an intensive partnership developed between Imtech and
Elkon, in which both companies are jointly acting as a technology partner for
new building programs of navy vessels, mega yachts and offshore related vessels.
Now this collaboration is culminating in an acquisition of a strongly synergetic
character; Elkon will focus on delivering electrical, automation and electrical
propulsion systems and services, while Imtech will act as expertise and
technology partner. From this strong local position, Elkon and Imtech can offer
a complete package high-quality maritime solutions and services. Moreover, the
strong financial position of Imtech will enable Elkon to start export activities
to countries on the borders of Europe and Asia that are allied with Turkey.
Elkon can also serve as a cost-efficient production location for Imtech's
product range of electrical systems.
Approval by the competition authorities
The acquisition is subject to approval by the Turkish competition authorities.
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 www.imtech.eu
Imtech profile
Imtech N.V. is a European technical services provider in the fields of
electrical engineering, ICT and mechanical engineering. This combination of
services makes it possible to offer total technological solutions. With
approximately 25,000 employees, Imtech achieves an annual revenue of around 4.5
billion euro. Imtech holds strong positions in the buildings and industry
markets in the Benelux, Germany, Eastern Europe, the Nordic region, the UK,
Ireland and Spain, as well as on the European markets of ICT and traffic, and in
the global marine market. Imtech has a client base of around 21,000 customers.
Imtech offers added value in the form of integrated and multidisciplinary total
solutions that lead to better business processes and more efficiency for its
clients and their customers. Imtech offers a wide range of solutions that
contribute towards a sustainable society, for example 'green' technology and
technical solutions in the markets 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.
Imtech marine profile
In the global marine market, Imtech (Imtech Marine Group) is an international,
brand-independent full-service provider delivering systems and services in the
range of power generation & distribution, (electrical) propulsion, platform
automation, communication & navigation, integrated bridge systems,
multimedia/entertainment, HVAC systems as well as harbour and airtime services.
Imtech operates a global sales and service network made up of more than 70
offices in more than 20 countries along all the world's main shipping routes and
near major shipbuilding centres. Imtech is active in all segments of the
shipbuilding market: mega yachts, naval vessels, offshore related vessels (like
dredgers, offshore construction and supply vessels), commercial ships, passenger
liners and inland waterways vessels.
[HUG#1444701]
pdf version of press release:
http://hugin.info/130755/R/1444701/388285.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Imtech N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 16.09.2010 - 07:30 Uhr
Sprache: Deutsch
News-ID 42599
Anzahl Zeichen: 0
contact information:
Town:
Gouda
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 182 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Imtech strengthens position in Turkey's marine market by acquisition of Elkon"
steht unter der journalistisch-redaktionellen Verantwortung von
Imtech N.V. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
