Heijmans to take over Moeskops' bouwbedrijf nv in Belgium

Heijmans N.V. (construction and related activities) expects to reach consensus regarding the takeover of MoeskopsÂ' Bouwbedrijf NV, based in Beringen, Belgium. Upon final consensus, the transaction shall be effected at 1 January 2002. The takeover will be paid in cash. The effect on Heijmans N.V.Â's result for 2002 shall be EUR 0.03 per share.

MoeskopsÂ' Bouwbedrijf is active in Flanders in the field of the realisation of housing projects, industrial construction, water treatment, public buildings, non-residential and non-civil building, renovation and promotional projects. Annual operating results amount to approximately EUR 37 million. MoeskopsÂ' Bouwbedrijf employs 220 people. The return is roughly equal to the average of the Heijmans companies. The activities of the company shall be merged with the building activities of Heijmans in Belgium.

The planned takeover enhances HeijmansÂ' position in the Belgian market. MoeskopsÂ' Bouwbedrijf is a sound enterprise with a good structure. The combination with the existing building activities of Heijmans in Belgium will lead to an economy of scale that strengthens the competitive position.

In addition, the takeover is in line with the strategy of Heijmans to increase its share abroad by means of the so-called oil slick theory: taking over medium-sized, profitable companies in the neighbouring countries. From a strong position in the Netherlands, the focus for foreign activities is primarily concentrated on Belgium and Germany.

(source: Heijmans)

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