acquisition Durotec in Germany

Aalberts expands German heat treatment activities

Aalberts Industries N.V., which is listed on the Amsterdam Stock Exchange and specialises in Flow Control Systems and Industrial Services, has acquired a majority holding of more than 60% in the German company Durotec GmbH.

Aalberts Industries has 25 operational bases specialising in various aspects of materials processing, and has a sizeable investment programme for its activities in this field. In the first quarter of 2001, for example, a large ‘Hipping’ plant will come on stream in the UK, with a total value of more than nlg 10 million.

In addition to its own development activities, Aalberts Industries also engages in selective acquisitions as part of its growth strategy. The investment in Durotec is in line with the series of acquisitions of medium-sized heat treatment plants which is enabling Aalberts Industries to expand further its European network of heat treatment activities.

Durotec is based in Frankfurt, and with a turnover of approximately NLG 12 million is one of the largest heat treatment plants in the region. Durotec will work closely with the other German heat treatment plants within the Hauck group, particularly in the area of organisation and development of technology. The Durotec management will report to the management of Hauck.

Aalberts Industries expects to be able to expand its European network further in the years ahead through a series of selective acquisitions and strategic alliances, and believes that the acquisition of Durotec represents an important move into the attractive Central German market.

The acquisition will be financed from the company's own resources. Durotec’s figures will be consolidated from 1 January 2001. The acquisition of Durotec will contribute to the growth in earnings per share in 2001.