GRONTMIJ 
By Divestment will strengthen strategic focus and accelerate path towards profitable growth
De Bilt, 21 January 2013 - Grontmij N.V., a listed consulting & engineering company with strong European presence, today announces its intention to divest the French Monitoring and Testing (M&T) business. Grontmij France (Ginger) currently consists of two independent businesses: namely Engineering and Monitoring & Testing (M&T). Grontmij views the Engineering part as core business and sees potential for financial recovery and growth in the coming years. The intended divestment of the French M&T business, known in France as CEBTP, will allow Grontmij Group to further focus on its core business and take the 'Back on Track' strategy to the next level (see separate press release published on 21 January 2013).
De Bilt, 21 January 2013 - Grontmij N.V., a listed consulting & engineering company with strong European presence, today announces its intention to divest the French Monitoring and Testing (M&T) business. Grontmij France (Ginger) currently consists of two independent businesses: namely Engineering and Monitoring & Testing (M&T). Grontmij views the Engineering part as core business and sees potential for financial recovery and growth in the coming years. The intended divestment of the French M&T business, known in France as CEBTP, will allow Grontmij Group to further focus on its core business and take the 'Back on Track' strategy to the next level (see separate press release published on 21 January 2013).
Highlights of the intended divestment :
-
French M&T activities are a 100% stand-alone business, with strong management:
- no operational fit with other activities within Grontmij Group
- very limited opportunity for Grontmij to leverage expertise to other European markets - Business facts French M&T: Total revenues approximately € 110 million (FY2011), with high single-digit margin on total revenues. M&T in France employs around 1,000 people and is headquartered in Elancourt
- Grontmij sees good potential for financial recovery and growth in revenue and profitability in the coming years for the French Engineering activities, which will be rebranded to Grontmij in 2013
- Divestment will allow Grontmij to strengthen its strategic focus and accelerate the path towards profitable growth
Michiel Jaski, CEO Grontmij N.V: 'Today, we announce an increased focus on the core business of Grontmij. As a logical consequence, we have the intention to divest our Monitoring & Testing activities in France. Although these activities have a strong market presence and are solid and successful financially, they do not fit our strategic goals and the long-term development ambitions of Grontmij. We remain fully committed to France with our Engineering activities.'
Download the full press release: Grontmij announces intended divestment of French Monitoring & Testing business
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