NIEUWEGEIN, The Netherlands, December 31, 2014 /PRNewswire/ --
Ballast Nedam has completed the sale of Ballast Nedam Offshore's activities to Van Oord and now announces the following development.
Certain Dutch and international parties have approached Ballast Nedam with a view to exploring the opportunities for a merger or acquisition. Ballast Nedam always gives strategic options serious consideration in the interests of its shareholders and other stakeholders. Ballast Nedam will make announcements accordingly as appropriate or necessary.
Completion of sale of Ballast Nedam Offshore's activities to Van Oord
The recently announced sale of Ballast Nedam Offshore's activities to Van Oord is now complete. As agreed, the transaction includes the sale of Ballast Nedam Offshore's assets, the staff of the EPCI services (EPCI: design, procurement, construction and installation), the Heavy Lift Vessel Svanen, and the ongoing Westermeerwind project. This transaction has no impact on job numbers. The transaction will produce a substantial book profit for Ballast Nedam in 2014.
As announced earlier, Ballast Nedam forecasts an operating loss for the full year of 2014 of between € 35 million and € 45 million, and a strong improvement in solvency from approximately 10 per cent (first half: 4%).
Ballast Nedam targets its strategic focus at successfully acquiring and carrying out integrated projects in the working areas of housing, mobility, energy and nature in the Netherlands and internationally. We will expand related activities in niche markets and work on projects where we can make a difference for the client with our expert knowledge and skills. Ballast Nedam applies a differentiated market approach for its three divisions.
With further industrialization of the building process through the use of innovative modular concepts and standardization Ballast Nedam creates enduring quality at the lowest possible life cycle costs for its clients and society. The Ballast Nedam share is included in the Amsterdam Small Cap Index (AScX) of NYSE Euronext. http://www.ballast-nedam.com
SOURCE Ballast Nedam