acquisition Stork TPP in the Netherlands
- acquisition Stork TPP B.V. (the Netherlands)
- high-precision componentry for large number of industrial buyers
- 60 employees, annual revenue approximately NLG 14 million
The Amsterdam Stock Exchange listed Aalberts Industries N.V. has reached an agreement with Stork N.V., also listed on the Amsterdam Stock Exchange, regarding the intention to take over the Helmond (the Netherlands) based Stork TPP B.V.
TPP has a turnover of approximately NLG 14 million and a staff of 60. The company is specialised in the supply of high-precision componentry to a large number of industrial buyers. Its customers include Philips, ASML and Stork.
The take-over represents a strengthening of Aalberts Industries' Industrial Services activities and an increase in its turnover in important industrial growth sectors. For Stork, the planned sale is part of its programme to reinforce the company's strategic focus by further concentrating on core activities. Within the Aalberts Industries Group, TPP will be able to benefit from the existing international sales network as well as the opportunity to work closely with Van Knegsel and the Mogema Group.
The take-over fits in line with Aalberts Industries' strategy of strengthening its position in the area of Industrial Services, in addition to autonomous development, which is to be extended through the acquisition of high-quality, specialised supply companies that create a high added value.
As from 1 July 2000, TPP's results will be included in the consolidation. Aalberts Industries will finance the share transaction from its own funds. The take-over will have a positive effect on profit per share.