Imtech strengthens position in Nordic processing industry with acquisition of Sundsvalls Rörteknik

Gouda - Imtech N.V. (technical services provider in Europe) announces that it has acquired Swedish technical services provider Sundsvalls Rörteknik via its Nordic daughter company NVS. This acquisition will immediately contribute to the revenue per share. The management of Sundsvalls Rörteknik will stay on after the acquisition.

Sundsvalls Rörteknik is an industrial services provider that is specialised in sophisticated mechanical engineering processes. In this market segment, Sundsvalls Rörteknik has an excellent reputation and a strong market position. With approximately 50 employees the company realises revenues of about 6 million euro on annual base.

Synergy
The Swedish Sundsvalls Rörteknik will operate as part of NVS Industry, the industrial division of NVS. NVS Industry will be able to offer total solutions in industrial mechanical engineering throughout Scandinavia via the NVS network of 90 branches. This will reinforce the position of Imtech (NVS) in Scandinavia.

NVS is one of the strongest technical players in the processing industry in Scandinavia, covering, among others, heavy industry, the food and beverage sector and the paper industry. Its range of services includes high-tech energy-saving combining heating and power systems as well as numerous other technical solutions for heating and energy. With the growing demand for energy efficiency, this market is growing substantially. Imtech (NVS) wishes to take strategic advantage of this development.

Growth in Scandinavia
Imtech acquired NVS in November 2008. NVS is one of the largest technical services providers in Sweden, Norway and Finland, with annual revenues of about 350 million euro. The acquisition fits in with Imtech’s strategy for further reinforcement of its position in Scandinavia. At the end of March 2009, Imtech also acquired Norwegian industrial maintenance company Olav C. Jensen & Søn.