ARCADIS Sells Dynamicon to HQ Group.Business Editors/High-Tech Writers ARNHEM, The Netherlands--(BUSINESS WIRE)--May 19, 2003 ARCADIS (Nasdaq: ARCAF; Euronext: ARCAD), the international consulting and engineering company, today announced that it has sold 60% of the shares of its temporary staffing agency Dynamicon BV to HQ group BV, located in Delft Delft (dĕlft), city (1994 pop. 91,941), South Holland prov., W Netherlands. It has varied industries and is noted for its ceramics (china, tiles, and pottery) known as delftware. Founded in the 11th cent. . Within three years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time remaining 40% of the shares will be sold to HQ group as well. HQ group is a temporary staffing agency for technical, financial and legal specialists. The new combination has a stronger position in the technical staffing business. Financial details were not disclosed. Dynamicon developed its services from an 'in house' temporary staffing position. In recent years, it has also provided local authorities and other big companies, apart from ARCADIS, with higher qualified technical staff. However, Dynamicon is too small, as a result of which a sound operational management in the future cannot be guaranteed. Moreover, current market circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or do not offer the right climate for Dynamicon to grow to the required size by itself. Since ARCADIS does not pursue strategic growth in temporary staffing it was decided to look at alternative options, which has led to an agreement to sell to HQ group in two phases. HQ group BV was founded in 1990 as HQT-services. Since 1994 HQT has provided temporary staffing solutions for middle and higher qualified technical staff in the fields of construction, civil engineering, mechanical engineering, electrotechnical engineering, environmental engineering and technical management. HQT has about 110 employees. In 2000 HQP HQP Highly Qualified Personnel HQP Highly Qualified People HQP Health Quality Partners (Doylestown, PA) HQP High Quality Picture HQP High Quality Personnel was started up as the equivalent of HQT with clients in the financial and legal markets. Dynamicon was founded in 1996 with its main fields of attention in temporary staffing, interim management and recruitment and selection of higher qualified technical staff in the fields of environment, civil engineering, cultural engineering, spatial development, building and real estate. Dynamicon has about 150 staff employed with clients in both the public and the private sector, including ARCADIS. Dynamicon will work under the same name and with the same staff. ARCADIS is a leading, global, knowledge-driven service provider, active in the fields of infrastructure, buildings, environment and communications. With client success central to our total business approach, we fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. project or program needs from concept to completion and beyond. Together, we generate 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. 850 million in annual revenues. There are 8500 of us: results-oriented people, continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. investing in our skills to maximize value while creating viable solutions that assure client success. 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 that 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 12 months, copies of which will be available from the SEC or may be obtained upon request from the Company. Visit us at the Internet: www.arcadis-global.com |
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