acquisition H&ST Heat & Surface Treatment in the Netherlands

Aalberts takes over heat treatment activities from Philips

Aalberts Industries N.V., listed on the Amsterdam Stock Exchange, with activities in the field of Industrial Services and Flow Control Systems, is taking over the heat treatment activities from Philips.

After the breakdown of negotiations with Philips last year, agreement has now been reached on the takeover of the heat treatment activities (H&ST Heat & Surface Treatment) located in Acht.

H&ST has a turnover of around EUR 10 million and employs more than 70 personnel. The works council and the trade unions have issued a positive recommendation on the move.

H&ST is specialised in PVD and CVD coatings and vacuum soldering. In particular with regard to the application of PVD/CVD coatings on small products in large series, H&ST has created a unique position for itself in Europe. It will now be able to offer its specific know-how in the field of applications for electronics to a wider market via the European network of Aalberts Industries.

H&ST will work closely with Mamesta, also based in the Netherlands, and be incorporated in the European network of service centres for heat and surface treatment.

The company will finance the takeover from its own resources. The figures of H&ST will be included in the consolidation as per 1 July 2002. This takeover will contribute to the growth of earnings per share in 2002.

For more information about H&ST, visit the website: www.harderij.com.