Arcadis to Acquire U.S. Infrastructure Company.Business Editors 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)--Nov. 16, 2000 ARCADIS NV (Nasdaq: ARCAF; AEX AEX See: Amsterdam Exchange : ARCAD) the international professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm for infrastructure, environment, buildings and communications and WSBC WSBC Wisconsin Sheep Breeders Cooperative WSBC Western States Benchmarking Consortium WSBC Washington State Beef Commission WSBC Western Springs Baptist Church WSBC Water Spray Boiler Controller WSBC Wisconsin Scholarship Bowling Club Civil Engineers, Inc., an infrastructure firm headquartered in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , today announced that the companies have reached agreement in principle for the acquisition of WSBC by ARCADIS. WSBC will become part of ARCADIS Geraghty & Miller, ARCADIS' U.S.-based operating company operating company A business that engages in transactions with outsiders. . Financial details regarding this intended transaction were not disclosed. The companies anticipate finalizing the transaction by the end of November. The transaction is in line with the recently reformulated strategy of ARCADIS of expanding its presence in the U.S. infrastructure marketplace. WSBC is a leading Texas-based company specializing in transportation, water and wastewater treatment and civil engineering. The firm currently operates with 70 employees in Houston, Laredo and Lufkin, with the expectation of significant growth, given their strong backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. . The firm's projected full-year 2000 gross revenue amounts to US$8 million. Harrie Noy, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ARCADIS, stated, "This is a further step in expanding our position in the attractive U.S. infrastructure market, and as such it fits very well within our strategic plans to generate substantial growth within these markets. We will continue to look for other acquisition opportunities as we pursue our goal of becoming a leading player in the U.S. infrastructure market." Joe Hastey, Chairman and CEO of ARCADIS Geraghty & Miller, added, "The acquisition of WSBC will add significant capabilities to ARCADIS' services package in Texas and the Gulf Coast, and accomplishes our strategic objective of expanding ARCADIS' infrastructure services into the Southwest. Particularly in the fast-growing U.S. transportation market, WSBC is a premier Texas firm that will greatly enhance ARCADIS' ability to serve public and private sector clients in the region, while complementing ARCADIS' existing services." WSBC President, Joe Wozny, commented, "We are very excited about the prospect of joining a leading international services firm like ARCADIS. This combination offers exciting possibilities for expansion of WSBC's services into the geographic markets currently served by ARCADIS in Texas and the Gulf Coast. Further, it allows us to expand our range of service capabilities at the project level. The transportation and water and wastewater engineering businesses increasingly require the broad range of services as well as the depth and financial strength that the combined firms bring to market." ARCADIS is an international knowledge-based services organization in the fields of infrastructure, environment, buildings and communications. Wherever the Company operates it aims to improve the physical quality of the living and working environment. From strong local market positions the Company works on integrated projects for public and private sector clients. Founded in 1888, ARCADIS currently has some 8,000 employees. The Company belongs to the top ten in its business worldwide. 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 are available from the SEC or may be obtained upon request from the Company. |
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