ARCADIS Acquires Brazilian Engineering Firm.ARNHEM Arnhem (är`nəm), Ger. Arnheim, city (1994 pop. 133,670), capital of Gelderland prov., E Netherlands, a port on the Lower Rhine. It is an industrial, transportation, and tourist center. , The Netherlands--(BUSINESS WIRE)--Sept. 16, 1999-- ARCADIS (Nasdaq: ARCAF; AEX AEX See: Amsterdam Exchange : ARCAD) announced today that it has acquired - through a capital investment - over 50% in Logos Engenharia S.A., a Brazilian civil engineering firm specializing in project management with which the Company had previously signed an exclusive cooperation agreement. The remaining shares are held by the management and employees of Logos through a holding company. The acquisition is expected to be accretive to ARCADIS' earnings beginning in the fourth quarter of 1999. While terms of the transaction were not disclosed, the Company indicated that payment in Brazilian Real The real (IPA: [xe'aw] or [ʁe'aɫ], symbol: R$, ISO 4217 code: BRL, plural: reais) is the currency of Brazil. It is also the name of the earliest Brazilian currency (see from the Colonial period to 1942. will take place in installments based on the future profitability of Logos. Founded in 1970 and headquartered in Sao Paulo, Logos currently has a total of 5 offices, 300 employees and annual gross revenue of approximately EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million. The company specializes in project and process management, and has extensive experience in the development and management of large scale engineering projects. Logos has a solid position in the Brazilian market, with geographical concentrations in Sao Paulo, Rio de Janeiro Rio de Janeiro, city, Brazil Rio de Janeiro (rē`ō də zhänā`rō, Port. rē`  thĭ zhənĕē`r and Brasilia. Logos has an extensive Brazilian client base and also works for foreign companies investing in the Brazilian market. The acquisition is part of ARCADIS' strategic plan to enhance its presence in the South American market, and allows current ARCADIS clients who wish to invest in Brazil to be serviced locally through Logos' offices. For Logos, becoming part of the ARCADIS network strengthens its Brazilian market position by bringing the benefit of the knowledge and experience of a large international engineering consultancy with expertise in infrastructure, environmental and construction engineering. Together ARCADIS and Logos will work on expanding the Company's Brazilian presence, with Logos being the lead firm for ARCADIS in this market. ARCADIS, with its head office in Arnhem, The Netherlands, is an engineering company specializing in consulting and implementation services for infrastructure, environment and construction engineering. Wherever the company operates in the world, it aims to improve the physical quality of the living and working environment through integrated solutions. With more than 10,000 projects executed annually in more than 100 countries, 90% of the company's revenues are generated in euros or dollars. ARCADIS with well over 7,000 employees - is one of the world's largest consulting engineering firms. Except for historical information contained herein, the statements in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, risks associated with possible changes in environmental legislation and risks with regard to the Company's ability to acquire and execute projects. These and other risks are described in ARCADIS' filings with the Securities and Exchange Commission over the last financial year, copies of which are available from the SEC or may be obtained upon request from the Company. Hyperlink A predefined linkage between one object and another. See hypertext. hyperlink - anchor - www.arcadis.nl |
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