Brussels, 29 July 2003
Cegelec, the international technological service group for the public and private sector, has announced the acquisition of ABB Building Systems in Belgium and the Netherlands. This operation, which reinforces the group’s existing activities in those two countries, gives Cegelec a strategic position in the Benelux market. This acquisition -the first significant one since the LMBO at the end of 2001 -was made possible by the group’s rapid progress in reducing its level of debt. The sale is subject to approval by the appropriate authorities in Belgium.
In Belgium and the Netherlands, ABB Building Systems reported revenues of € 115 m in 2002 and employs 770 staff spread over 10 local sites. ABB Building Systems Belgium ( which accounts for 75 % of the total activities of the acquired entity) is especially well known for its expertise in the installation and air conditioning services market. It’s ranked third in this sector in Belgium.
In the Benelux countries, Cegelec currently has annual revenues of € 170m and employs 1700 staff. This new acquisition makes Cegelec one of the leaders in the electrical and HVAC ( Heating Ventilation & Air Conditioning) market in Belgium. In the Netherlands, Cegelec is once again greatly strengthening its position, after the integration of the Installation activity of Siemens at the beginning of the year.
After the integration period and the implementation of synergies, in 2005 , Cegelec revenues should amount to € 350 m for the Benelux countries.
About Cegelec
Cegelec (www.cegelec.com) is an integrated global group providing technological services to companies and local authorities. Cegelec has sales of approx. 2,8billion and employs 26000 people in 30 countries. Cegelec offers efficient solutions in: Energy, Electricity; Automation, Instrumentation and Control; Information and Communication technologies; HVAC, Mechanics and Mechatronics; Long Term service agreement
About ABB
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impacts. The ABB Group of companies operates in around 100 countries and employs about 135,000 people worldwide.
Contact :
Jean-Louis Erneux
Cegelec Communications Department
Tel. +32 2642 30 70
jean-louis.erneux@cegelec.com
www.cegelec.com
