ARCADIS Sells Its Interest in Spanish Grupo EP.ARNHEM, The Netherlands -- ARCADIS (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ARCAF; EURONEXT: ARCAD), the international consulting and engineering firm, today announced that it has sold its 50% participation in the Spanish Spanish, river, c.150 mi (240 km) long, issuing from Spanish Lake, S Ont., Canada, NW of Sudbury, and flowing generally S through Biskotasi and Agnew lakes to Lake Huron opposite Manitoulin island. There are several hydroelectric stations on the river. company Grupo EP to management and employees of that firm, who already held the other 50% of the shares. Following a discussion about the future ownership structure, ARCADIS decided to sell its 50% participation in good consultation with the other shareholders. The two companies will continue to work together on the basis of a cooperation agreement. Grupo EP has total gross revenues 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. 135 million and around 1,700 employees. The company was consolidated for 50% in ARCADIS' figures. The contribution from Grupo EP to ARCADIS' net income from operations in 2004 was less then 5%. Deconsolidation will take place as of the middle of June 2005. Other financial details were not disclosed. ARCADIS acquired its interest in Grupo EP at the end of 1995 in the framework of a management buy-out buy·out also buy-out n. 1. The purchase of the entire holdings or interests of an owner or investor. 2. The purchase of a company or business: . ARCADIS' policy is directed at close cooperation within the group to achieve synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. , which contributes to the growth of the company. Consequently, the company strives to acquire majority participations in its subsidiaries. When it became clear that there were no prospects to gain a majority participation in Grupo EP, it was concluded that it is also in the interest of Grupo EP to create a uniform ownership structure. The cooperation agreement will serve to continue ARCADIS' good relationship with Grupo EP, particularly aimed at delivering services towards multinational clients. ARCADIS is an international company that provides project management, consultancy and engineering services to enhance mobility, sustainability and quality of life. Infrastructure - Environment - Facilities. ARCADIS develops, designs, implements, maintains and operates projects. For companies and governments. With 10,000 employees and EUR 900 million in gross revenue. Present multi-nationally with a close-knit local network. Expertise and experience of international significance. Focused on providing added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
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 are 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. |
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