Ballast Nedam Strengthens Position With Heddes

Mar 02, 2011, 10:54 ET from Ballast Nedam NV

NIEUWEGEIN, The Netherlands, March 2, 2011 /PRNewswire-FirstCall/ -- Ballast Nedam has reached agreement on the takeover of part of the activities of the Dutch construction company Heddes. It concerns the takeover of 16 projects with a total volume of approximately EUR 100 million and the small scale construction activities. Heddes Bouw & Ontwikkeling will operate from its headoffice in Hoorn with over 100 employees.

Heddes is a renowned construction company with an excellent reputation. Chairman of the Board of Management of Ballast Nedam, Theo Bruijninckx is very pleased with this fast relaunch: "This means a valuable strengthening of our position in the North West region in The Netherlands with an excellent company, that can focus on the future again. It's good news that Niels Doodeman will ensure continuity of the company as managing director of Heddes Bouw & Ontwikkeling.

Employment for over 100 employees could be maintained by the fast actions of the receiver and the continued involvement of Euler Hermes. The transaction is final after the required decision by the Dutch competition authority (NMa).

Ballast Nedam has a leading position in construction and infrastructure. The company operates mainly in the Netherlands on integrated and other projects for companies, public authorities and housing consumers, in the fields of mobility, housing, employment, leisure and energy. Ballast Nedam operates internationally in various areas of expertise. Ballast Nedam supplies project, process and contract management in the development, implementation and management phases. The company also provides specialized know-how and skills, and semi-finished and finished products. Ballast Nedam is listed on NYSE Euronext in Amsterdam. The share is included in the Amsterdam Small Cap Index.

SOURCE Ballast Nedam NV