Ballast Nedam Sells Yvoir Sandstone Quarry to Group De Cloedt
NIEUWEGEIN, The Netherlands, July 12, 2013 /PRNewswire/ --
On 12 July 2013, Ballast Nedam sold its 100% stake in Societé d'Exploitation des Carrières d'Yvoir SA (SECY, Yvoir) to Group De Cloedt. This sale is in line with Ballast Nedam's strategy of strengthening its financial position in 2013.
The sandstone quarry in Yvoir, Belgium, produces high-grade hard sandstone aggregate, the main uses of which are in asphalt production and as railway ballast. Some grades are also suitable for use in concrete products. Ballast Nedam acquired the quarry, which produces up to 600,000 tons of stone chippings annually, in 1995.
The Belgian Group De Cloedt markets, produces and sells aggregates, and operates soil remediation, redevelopment and dredging projects.
There have been commercial links between SECY and Group De Cloedt for several years through Granulats et Sables de Wallonie nv. This transaction marks a new phase in this relationship, in which the interests of customers, employees and other stakeholders will be guaranteed.
Ballast Nedam engages in integrated projects in The Netherlands in four areas of work: housing, mobility, energy and nature. Within this area we focus on the niche markets: industrial construction, offshore wind turbines, secondary raw materials and alternative fuels. In a number of areas of expertise, we also operate internationally. The Ballast Nedam share is included in the Amsterdam Small Cap Index (AScX) of NYSE Euronext.
Ballast Nedam's approach is based on life cycle thinking and acting: we develop, construct, manage and recycle. We are involved in long-term management, maintenance and operation of projects and organize financial feasibility. Our supply and specialized companies deliver competitive edge through innovation, cost leadership and purchasing strength. Ballast Nedam's range of services is shifting towards modular products and specific product-market combinations with greater added value.
Ballast Nedam creates enduring quality combined with lower life cycle costs for its customers and society. http://www.ballast-nedam.com
SOURCE Ballast Nedam