Heijmans makes progress in resolving loss-making projects: Energiefabriek Tilburg contract terminated
(Thomson Reuters ONE) -
Heijmans reports the following regarding ongoing discussions and disputes
concerning loss-making projects:
After a constructive consultation process, Heijmans and De Dommel District Water
Board have agreed to terminate their partnership relating to the project
Energiefabriek Tilburg. Effective 1 December, the District Water Board will
fully take over the plant from Heijmans and will then become responsible for its
operation, maintenance and further optimization. This means that as of that
date, Heijmans will no longer have any financial and operational responsibility
for the plant which since June 2016 has been taking in sewage sludge and
produces electricity.
The termination has a negative effect on the EBITDA of almost ? 15 million. The
impact of this agreement is a subject of consideration in the ongoing
negotiations with financiers as referred to in our trading update of 2 November
2016.
Contract and building process
In 2012, both parties signed a contract for the design and construction of the
plant. The contract also provided for the plant's 15-year maintenance. In
addition, it was agreed that full responsibility for the design, construction,
maintenance and operating costs would be assumed by Heijmans.
During the design and construction phase both parties engaged in various
discussions concerning the ultimate implementation and the proper operation of
the plant. Although partial agreement was achieved, decisions were also enforced
in a number of areas through arbitration. The partnership initially proceeded on
this basis. After reconsideration, both parties jointly concluded that they
wanted to terminate the partnership.
About the Energy Factory
The objective of the Energiefabriek is to treat all of the sewage sludge in De
Dommel's management area. High-quality technologies are applied to attain this
objective. The plant reduces the volume of sewage sludge and produces biogas,
which is used to generate renewable energy. This way the plant provides for its
energy needs and operates energy-neutral. The surplus biogas, after the
production of electricity, is supplied to the adjacent waste processing company
Attero.
About Heijmans
Heijmans is a listed company that combines activities related to property
development, residential building, non-residential building, roads and civil
engineering in the working areas living, working and connecting. Heijmans is
active in the Netherlands, Belgium and Germany and as a technology partner
delivers know-how and concepts in various markets. Our constant focus on quality
improvements, innovation and integrated solutions enables us to generate added
value for our clients. Heijmans realises projects for private consumers,
companies and public sector bodies. With almost 6,500 employees and close to ?
950 million in revenues in the first half of 2016, we are building the spatial
contours of tomorrow. You will find additional information on www.heijmans.nl.
For additional information / not for publication:
Media
Marieke Swinkels-Verstappen
Communications
+31 73 543 52 17
mswinkels-verstappen(at)heijmans.nl
Analysts
Guido Peters
Investor Relations
+ 31 73 543 52 17
gpeters(at)heijmans.nl
Press Release:
http://hugin.info/130707/R/2060955/772787.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Heijmans NV via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.12.2016 - 07:16 Uhr
Sprache: Deutsch
News-ID 510201
Anzahl Zeichen: 4054
contact information:
Town:
Rosmalen
Kategorie:
Business News
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"Heijmans makes progress in resolving loss-making projects: Energiefabriek Tilburg contract terminated"
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