Ballast Nedam to Adjust Capacity of Ballast Nedam Construction & Development, Northwest Region

Aug 22, 2012, 02:16 ET from Ballast Nedam NV

NIEUWEGEIN, Netherlands, August 22, 2012 /PRNewswire/ --

Ballast Nedam will adjust the capacity of Ballast Nedam Construction & Development in the Northwest region due to deteriorating market conditions. The capacity adjustment means that 45 of the 146 jobs will be cut. The Works Council of Ballast Nedam Bouw & Ontwikkeling has already provided its recommendation. The current social plan will be implemented and a mobility centre will be opened to assist as many people as possible in finding new employment.

Ballast Nedam broke even in the first half year in a deteriorating market. Real estate development and the regional companies, both in construction and in infrastructure, suffered due to poor market conditions and were particularly loss-making. With the presentation of the half-year figures it was already announced that the capacity of these companies would be adjusted to market conditions in the second half of the year.

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 five niche markets: industrial construction, hospitals, 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 specific product-market combinations with greater added value.

Ballast Nedam creates enduring quality combined with lower life cycle costs for its customers and society.


SOURCE Ballast Nedam NV