Gouda, The Netherlands, 11 May 2006 - Imtech N.V. (technical services provider in Europe) announces that the intended acquisition of Radio Holland Group, an international specialist in marine satellite and radio communications, automation, and observation and navigation systems is definitive. The acquisition has been approved by both the NMa (Dutch Competition Authority) and German Bundeskartellamt (German Federal Cartel Office). This acquisition will almost double revenues of Imtech in the maritime market, which yields a place it in the global top 5. The acquisition price, including an earn-out, is approximately 47 million euro and will be paid in cash. The acquisition fits the Imtech strategy of further international growth in the marine market and makes a direct contribution to the earnings per share.
The synergy between the marine activities of Imtech and Radio Holland Group is as follows:
* Imtech acquires a global service network of more than fifty international offices on all continents; * Together Imtech and Radio Holland Group cover all market segments: navy vessels, mega yachts and cruise liners as the complete civil maritime market (dredgers, oil and gas ships, container ships, bulk carriers, etc.). The new combination has an extensive customer portfolio which offers continuity; * Radio Holland Group can serve as a platform for the sale of Imtech's innovative products, e.g. platform automation, integrated ships' bridges and electric propulsion. * Imtech is acquiring a position in de USA, a country with a strong marine tradition in which Imtech is not yet active. Imtech is also strengthening its position in the rapidly growing marine market in the Far East, especially in China; * The increasing degree of automation onboard ships makes the development of activities of Radio Holland Group in the field of 'satellite airtime' an interesting market, offering clients remote access, online support and regular updates (of, for example, electronic charts).
In the international marine market, the acquisition will almost double Imtech's revenue to around 350 million euro and increase its staff to approximately 1,700 maritime specialists. With this, Imtech acquires a position in the top 5 of the global marine market. As product and supplier independent services provider, Imtech offers customers innovative integral solutions with complete service, maintenance and after sales in a worldwide network of more than sixty international locations along all the most important global shipping routes.
Further information Imtech N.V. Mark Salomons Company Secretary Telephone: +31 182 54 35 14 Mobile: +31 6 54 61 22 89 E-mail: [email protected] www.imtech.nl
Radio Holland Group B.V. Dé Slager Chairman Board of Management and CEO Telephone: +31 10 266 98 76 E-mail: [email protected] www.radiohollandgroup.com
Profile Imtech N.V. is a European technical services provider in the field of electrical engineering, ICT and mechanical engineering. With approximately 14,500 employees, Imtech realizes annual revenue of 2.4 billion euro. Imtech holds strong positions in the buildings, industry, marine, infrastructure and telecoms markets in Belgium, Germany, Luxembourg, The Netherlands, Spain, and the UK and is also active in Eastern Europe. Imtech shares are listed on the Euronext Stock Exchange (Amsterdam), where Imtech is included in the Amsterdam SmallCap Index (AScX) and the Next 150 index.
