HBG sells interest in NEM to L. & C. Steinmüller

2 April 2001 15:42 - Royal BAM Group nv

Rijswijk, the Netherlands – HBG, Hollandsche Beton Groep nv, has transferred its interest of 29 per cent in NEM bv [based in Leiden, the Netherlands] to L. & C. Steinmüller GmbH in Oberhausen.

L. & C. Steinmüller – part of Babcock Borsig Power GmbH – was holding already a 69 per cent interest in NEM. The parties involved will not disclose the transfer amount.

NEM is specialised in energy and environmental projects and is the world's leading supplier of exhaust gas dampers for the power industry. The sale of the interest in NEM is in line with HBG's strategy of focusing more on the core activities in building and property development, civil engineering, dredging and consultancy and engineering. In this respect, the activities of HBG's group company HCG industrieservice bv were taken over by GTI nv earlier this year.

Further information:

Arno C. Pronk, HBG Public Relations, telephone +31 70 3722121.