Imtech: position in Spain strengthened through acquisitions
(Thomson Reuters ONE) - Gouda - Imtech (technical services provider in Europe) announces thatit has strengthened its position and portfolio in Spain through theacquisition of the Spanish electrotechnical specialists HuguetLevante and Huguet Mantenimiento. Combined, these two companiesemploy 245 people and in 2008, they realised a total revenue of over20 million euro. The acquisition sum is based on approximately fivetimes the average EBITA for 2008 and 2009 and will be paid in cash.The acquisition will make an immediate contribution to the profit pershare.Imtech CEO René van der Bruggen considers the acquisitions as alogical next step in Spain: 'Until the year before last, Imtech inSpain was primarily active in the fields of mechanical processtechnology and air and climate technology. In strategic terms, wewould like to expand our portfolio with electrical services. Afterall, in Spain - as in other European countries - our objective is tooffer total technical solutions via the combination of electrical andmechanical services. We took the first step last year by theacquisition of the first electrotechnical Huguet company as well asby offering autonomously initiated electrotechnical services. Withthe acquisition of both other electrotechnical Huguet companies, wewill be taking the next step, which will contribute to furthergrowth. Imtech has already proven in a large number of Europeancountries that this strategy is successful and leads to growth.'Company profiles of Huguet Levante and Huguet MantenimientoHuguet Levante is an electrotechnical specialist working in thefields of low and medium voltage, fire detection and innovativecabling. The focus lies mainly on hospitals and the care sector, butin addition, the company is active in universities, offices, hotels,shopping centres and schools. Huguet Mantenimiento is an electricaland mechanical maintenance specialist with a strong focus on thepublic sector, working for clients like regional governments,municipalities and energy companies. In addition, the company alsoworks for universities and hospitals. The majority of the activitiesinvolve long-term maintenance contracts.Growth in the Valencia regionBoth acquired companies are operating in the Valencia and Murciaregions, where Imtech already enjoys a good regional position as astrong player in the mechanical sector. In one fell swoop, thebundling of activities will make Imtech a strong regionalmultidisciplinary (both electrical and mechanical) player with abroad range of activities with a good spread across new constructionand technical maintenance and management in a large number ofsectors. The objective is further growth through synergy,cross-selling between electrical and mechanical services and theoffering of higher added value.Total solutionsIn Spain, Imtech is one of the larger players in the technicalservices sector. Imtech can rely on strong positions in both theindustrial and buildings sectors. The focus primarily lies ontechnical processes in the field of mechanical engineering, butImtech is increasingly active with activities in the areas ofelectrical engineering and instrumentation. Last year, an autonomouscompetence centre was established to facilitate this. In addition, atthe end of December 2008, Imtech acquired the first part of theelectrotechnical player Huguet, which is active in the regionsMadrid, Barcelona and Navarra. The present acquisition of the twoother electrotechnical Huguet companies ties in seamlessly with this.The strategic objective is that in Spain, Imtech will develop furtherinto a complete technical services provider that offers comprehensivetechnical solutions on the basis of national coverage. 0-0-0-0-0-0-0-0-0-0-0More informationMedia: Analysts & investors:Mark Salomons Jeroen LeenaersCompany Secretary Manager Investor RelationsT: +31 182 54 35 14 T: +31 182 54 35 04E: mark.salomons(at)imtech.eu E: jeroen.leenaers(at)imtech.euwww.imtech.eu www.imtech.euImtech profileImtech N.V. is a European technical services provider in the fieldsof electrical engineering, ICT and mechanical engineering. With over22,500 employees, Imtech achieves annual revenue of around 3.8billion euro. Imtech holds strong positions in the buildings,industry and infrastructure/traffic markets in the Netherlands,Belgium, Luxembourg, Germany, Eastern Europe, Nordic, the UK, Irelandand Spain and in the global marine market. In total Imtech serves19,500 customers. Imtech offers added value in the form of integratedand multidisciplinary total solutions that lead to better businessprocesses and more efficiency for customers and the customers they,in their turn, serve. Imtech also offers solutions that contributetowards a sustainable society, for example in the areas of energy,the environment, water and mobility. Imtech shares are listed on theEuronext Stock Exchange Amsterdam, where Imtech is included in theMidkap Index. Imtech shares are also included in the Dow Jones STOXX600 index.http://hugin.info/130755/R/1358143/330590.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 01.12.2009 - 07:30 Uhr
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