Stork Industry Services has acquired a shareholding of 70% in Exmont
Engineering in Bratislava, Slovakia. Both parties recently signed an
agreement for this purpose. The acquisition is expected to be
completed by the end of November. Stork also signed a contract today
to acquire 100% of the shares of Istimewa Elektro in Vlissingen,
Netherlands. Both acquisitions are in line with Stork's growth
strategy.
Exmont
Exmont specialises in industrial installation works and has more than
200 qualified employees. The acquisition gives Stork access to
skilled technicians who can be deployed flexibly. These personnel are
increasingly difficult to recruit in the Netherlands. The acquisition
also opens the rapidly growing Central European market for Stork
Industry Services.
As a technical service provider, Exmont is market leader in the oil
processing industry in Slovakia. The company is well known for its
expertise in (prefab) piping and the management and execution of
shutdowns. In addition, Exmont has a strong position in the building
of storage tanks and paint lines for the automotive industry.
Although the domestic market in Slovakia offers a sound base, Exmont
also has strong activities in other EU countries including Germany,
Sweden and Belgium.
The current industrial development in Slovakia means there is an
increasing demand for a professional, integrated maintenance
approach. Stork Industry Services can further strengthen the position
of Exmont with its proven expertise in maintenance management and
asset performance. Stork's intention is to further develop these
activities.
Istimewa
Istimewa has a strong position in offshore, industry and
infrastructure such as dams, locks and bridges. The company has an
annual turnover of approximately ¤ 20 million and around 130
employees. The trade unions have been notified and the works councils
have reacted positively.
Broadening of the expertise in the area of Electrical Engineering &
Instrumentation and Industrial Automation is part of the strategy of
Stork Industry Services. The acquisition conditions are not being
disclosed.
About Stork Industry Services
Stork Industry Services is active as an industrial service provider
in the field of maintenance, repairs, stops, renovations, new
building projects, relocations, complex projects and maintenance
concepts for the onshore and offshore sectors. Stork Industry
Services is part of the Stork Technical Services group, which
consists of the Industry Services and Industry Specialists units. The
group achieved a turnover of ¤ 868 million in 2006 with 6,080
employees, out of the total Stork turnover of ¤ 2 billion.
Earlier acquisitions as part of the growth strategy of Stork Industry
Services were the Instruments & Calibration and Process Automation
departments of Viro Food (industrial automation, measurement &
control technology and process technology) in December 2005, and the
electrical contractor Koster (electrical engineering and system
integration) in January 2006. In February 2006 Industry Services
increased its shareholding in StorkReal (organisation and automation
of maintenance and internal logistics) to 100% and acquired Reda GmbH
(specialist in the overhaul of shut-off valves, especially for power
stations). Subsequent acquisitions were the Technical Services
departments of Akzo Nobel Base Chemicals on the Botlek (May 2006) and
Delfzijl (September 2006) industrial sites. In April 2006 Stork
acquired iicorr (asset integrity management services), and the most
recent acquisition was MASA (operate, maintenance & asset
management).
Press information:
Stork N.V.
Annemieke Kuijpers
Tel.: 0031 (0)35 - 695 75 07
