acquisition Kirsebom & Ims Salg in Norway

Aalberts strengthens activities in Norway

Aalberts Industries N.V., active in Flow Control and Industrial Services, has taken over the operations of the Norwegian-based company Kirsebom & Ims Salg AS.

Kirsebom & Ims produces fittings for the Norwegian market, which in 2004 introduced a stringent high-quality standard for fittings. The new Norwegian standard differs from that in the rest of Europe in that it also addresses the stability of constructions and the material used to make the fittings. Norway raised the standard to comply with the country’s stringent safety requirements and climatic circumstances. Kirsebom & Ims products are the only ones to meet the new Norwegian standard. Therefore the takeover is an important step for Aalberts Industries in strengthening its Flow Control activities in Norway.

With a turnover of approximately EUR 1.7 million, Kirsebom & Ims enjoys a unique market position in Norway and it will now be able to use this position to successfully introduce other products to the market in combination with its “K”-fittings.

Kirsebom & Ims’ activities will be integrated with those of the existing Norwegian subsidiary, Raufoss Water & Gas. Not only will the two companies merge their sales activities, they will also combine their production and purchasing activities. Kirsebom & Ims will enjoy the benefit of Aalberts Industries’ strong position in purchasing and outsourcing. Raufoss Water & Gas will invest extra in the production of “K”-fittings.

The takeover of the operations of Kirsebom & Ims will make a positive contribution to profit growth in 2005, which from 1 June 2005 will be included in the consolidated figures. The takeover will be financed from our own funds.

For information on Kirsebom & Ims products, go to the company website: www.kirsebom.org