British Court Reduces OFT Penalty

Mar 11, 2011, 11:01 ET from Ballast Nedam NV

NIEUWEGEIN, The Netherlands, March 11, 2011 /PRNewswire-FirstCall/ -- Ballast Nedam appealed against the penalty of EUR 9 million which was imposed in 2009 by the Office of Fair Trading. The Competition Appeal Tribunal (CAT) has decided upon appeal to reduce the penalty to EUR 0,6 million. This penalty has been incorporated in the financial statements 2010.

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