Royal BAM Group acquires remaining 10%-interest in HBG Constructors, Inc.

21 March 2003 21:27 - Royal BAM Group nv

Royal BAM Group has reached agreement with Mr Scott Lynn regarding the sale of his ten percent interest in the US operating company HBG Constructors, Inc. After the transaction Royal BAM Group will hold full ownership of HBG Constructors.

Garry Crabtree has been appointed President and Chief Executive Officer of HBG Constructors, Inc. as successor to Scott Lynn.

Garry Crabtree joined the management of HBG Constructors as Chief Operational Officer in August 2002. Before that he was on the Board of the Britsh operating company Edmund Nuttall Ltd. The management of HBG Constructors now consists of Garry Crabtree and Paul Driscoll (Chief Financial Officer and Vice-President).

Royal BAM Group (formed by the merger of Royal BAM NBM and HBG on 14 November 2002) ranks among the top ten construction companies in Europe. The Group is with HBG Constructors, Inc. active in the US market for civil engineering works.

Further information:

Arno C. Pronk, telephone + 31 70 3722121.