Imtech disinvests fire extinguishing products and systems

(Thomson Reuters ONE) - Gouda, the Netherlands - As part of its 2012 strategic growth plan, Imtech(technical services provider in Europe) has disinvested and sold non-coreactivities in the field of extinguishing products and extinguishing systems toprivate equity specialist Bencis Capital Partners.The transaction concerns thebusiness units Saval (the Netherlands and Belgium) and Knowsley (UnitedKingdom). The combined annual turnover of the sold companies totalsapproximately 36 million euro with about 230 employees.Imtech CEO Ren?an der Bruggen: 'Some people may be surprised by this sale.After all, Imtech is well-known for its active acquisition strategy. The Imtechstrategic growth plan for 2012 is based on obtaining strong market positions, atleast in the top 3 in the relevant strategic markets for Imtech. Activities inthe field of fire extinguishing products and extinguishing systems do not fulfilthese strategic principles. With revenues of 36 million euro and a limitedgeographical scope, the scale of these activities is too small. Expanding into alarge European player in fire-fighting requires significant investments. As partof its strategic growth plan Imtech wants to maintain a sharp focus on selectedstrategic growth markets like ICT, traffic and maritime technology. Instead ofan orientation towards services - the core business of Imtech - these activitieslean heavily towards products (development, sale and servicing). Therefore, thedegree of synergy and added value within Imtech is relatively low. The sale to afinancially strong party like Bencis Capital Partners, who is willing to expandthese activities, is the best solution for the future.'Local players in extinguishing products and systems marketSaval (established and active in the Netherlands and Belgium) and Knowsley(established in the UK but active principally abroad in oil and gas producingcountries) specialise in producing, selling and maintaining fire extinguishingproducts and extinguishing systems. With the maintenance of approximately400,000 extinguishing products in and around buildings in the Netherlands andBelgium and the supply of dozens of fire extinguishing systems at oil and gasmining sites mainly in the Far and Middle East and Africa, these companies arelocal players with only a strong market position in specific segments andgeographical area in the consolidating market for extinguishing products andsystems. Better opportunities for the years ahead lie in joining a financiallystrong party who is focussed on this segment.Insufficient synergy with other Imtech activitiesThere was also insufficient synergy with the other activities within Imtech. TheSaval and Knowsley product-focused companies operate stand-alone under their ownnames and are usually not offered as part of an integrated package. Therefore,their activities generate relatively low added value with other activities ofImtech.Continuation of other fire-fighting activitiesDespite these disinvestments Imtech will continue other fire-fighting activitiesas part of its services portfolio, such as fire detection and sprinklertechnology and the German 'Brandschutz' activities (total fire-extinguishingsolutions). Similarly, Imtech will continue to offer the installation andmaintenance of fire-extinguishing systems (as part of its total range) where inthe Netherlands Saval will act as a preferred supplier. 0-0-0-0-0-0-0-0-0-0-0More information Media: Analysts & investors: Mark Salomons Jeroen Leenaers Company Secretary Manager Investor Relations T: +31 182 54 35 14 T: +31 182 54 35 04 E:mark.salomons(at)imtech.eu E:jeroen.leenaers(at)imtech.eu www.imtech.eu www.imtech.eu Imtech profileImtech N.V. is a European technical services provider in the fields ofelectrical engineering, ICT and mechanical engineering. With over 22,500employees, Imtech achieves annual revenue of around 3.8 billion euro. Imtechholds strong positions in the buildings, industry and infrastructure/trafficmarkets in the Netherlands, Belgium, Luxembourg, Germany, Eastern Europe,Nordic, the UK, Ireland and Spain and in the global marine market. In totalImtech serves nearly 20,000 customers. Imtech offers added value in the form ofintegrated and multidisciplinary total solutions that lead to better businessprocesses and more efficiency for customers and the customers they, in theirturn, serve. Imtech also offers solutions that contribute towards a sustainablesociety, for example in the areas of energy, the environment, water andmobility. Imtech shares are listed on the Euronext Stock Exchange Amsterdam,where Imtech is included in the Midkap Index. Imtech shares are also included inthe Dow Jones STOXX 600 index.[HUG#1375835] pdf version press release: http://hugin.info/130755/R/1375835/337665.pdf

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Datum: 22.01.2010 - 01:31 Uhr
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