AvH and CFE to Combine Their Construction Activities

The boards of directors of Ackermans & van Haaren and CFE are examining the possible combination of their construction activities.

The proposed combination includes activities of Van Laere group and CFE Contracting under CFE.

Van Laere group realized a turnover of 195 million euros in 2016. It is fully owned by Ackermans & van Haaren. The most important subsidiaries of Van Laere group are Algemene Aannemingen Van Laere NV, Groupe Thiran SA and Arthur Vandendorpe NV.

Even though the transaction does not fall within the scope of article 524 of the Companies Code, the board of directors of CFE decided on June 23, 2017 to appoint a committee of independent directors. The committee is composed of Ciska Servais SPRL, represented by Mrs Ciska Servais, by Pas de Mots SPRL, represented by Mrs Leen Geirnaerdt, and by Mr Philippe Delusinne.

This committee will describe the nature and terms of this transaction, evaluate the pro’s and con’s for CFE and its shareholders and evaluate the financial consequences, to allow the board of directors of CFE to take a final decision. The transaction could take place in the course of the fourth quarter of 2017, after the realization of a due diligence.

CFE is an industrial Belgian Group active in 3 different sectors: dredging, marine engineering and environment, Contracting and Real Estate Development. The group is worldwide active, mainly across its dredging and marine activities executed by DEME, a 100% subsidiary, one of the world’s leading dredging contractors.

 

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Posted on June 29, 2017 with tags , , .

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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