Romanian Competition Authority approves acquisition of Arconi

Gouda – Following the press release of 6 October 2009, Imtech (technical services provider in Europe) now announces that the Romanian Competition Authority has approved the acquisition of the Romanian multidisciplinary technical services provider Arconi. Arconi employs over 200 technical specialists and realises an annual revenue of about 15 million euro. The acquisition will immediately contribute to earnings per share.

Imtech has adopted an ambitious growth strategy for Eastern Europe, which is elaborated step by step. The acquisition of Arconi forms an important milestone. For the first time, Imtech has acquired a medium-sized local Eastern European company.

Arconi, established in Bucharest, is one of the larger players in the Romanian market for technical services. Arconi is characterised by an excellent reputation and distinguishes itself through its high-quality solutions, relying on a wide range of technical competences that are presented in a multidisciplinary offer to an extensive and well-distributed clientele.

Working out of Germany, Imtech has been active in Romania for many years, and has also been collaborating for years with Arconi. This is why both companies are very familiar with one another and enjoy a strong relationship of trust. The acquisition of Arconi considerably strengthens the company’s position in Romania. Via Arconi, Imtech will in due time be able to offer the entire range of Imtech services to Romanian clients. Imtech Deutschland (Germany) will function as a cornerstone in this process. Further growth is on the horizon, particularly since there is a growing demand for high-grade technical solutions in Romania. Further acquisitions in order to strengthen local positions in Eastern Europe are not ruled out.