ARCADIS Expands Environmental Consultancy in the U.S.
31 Janeiro 2008 - 7:49PM
PR Newswire (US)
ARNHEM, January 31 /PRNewswire-FirstCall/ -- ARCADIS (EURONEXT:
ARCAD), the international consultancy, design and engineering
company, announced today that it has acquired 100% of the shares of
LFR Inc., a U.S.-based environmental services company with 2007
gross revenues of $127 million (net revenues $63 million) and
margins close to ARCADIS' target for environment. As a nationally
recognized environmental management and consulting firm,
headquartered in the San Francisco Bay area of California, LFR
employs over 480 staff in 34 offices nationwide, serving private
sector commercial, industrial and institutional clients across the
country. ARCADIS acquired LFR from a private investment group. It
is expected that the acquisition will be immediately accretive to
earnings per share. No further financial details were disclosed.
LFR has been in continuous operation since 1963 and is one of a few
remaining premier independent environmental consulting firms in
North America. LFR provides a broad range of environmental and
related services including fixed-price remediation (Guaranteed Site
Solutions(TM)), environmental audits and due diligence, specialized
geotechnical engineering, risk assessment and litigation
support/expert witness services, environmental compliance, air
quality and hazardous material abatement services. Over the past
five years the company has produced double digit revenue growth.
"This acquisition strengthens ARCADIS' position as a global leader
in environmental services. With over one third of revenues,
environment is an important market segment for ARCADIS, allowing us
to continue strong growth, driven by such key issues as
sustainability and climate change," says Harrie Noy, CEO of
ARCADIS. "Through this acquisition we establish a more substantial
presence in California, a premier environmental market where we can
expect additional growth with our combined capabilities," adds
Steve Blake, CEO of ARCADIS US operations. "Similarly to Blasland,
Bouck and Lee, which we acquired in 2005, we will benefit from
cross selling services to our mutual clients both nationally and
internationally, and from operational synergies over time." LFR CEO
Frank Lorincz commented: "We believe that by joining ARCADIS we
will provide excellent professional development opportunities for
our staff. We also will immediately strengthen our own market
position, as we are able to support our clients internationally
through the ARCADIS network. Additionally, we will be able to
leverage the significant capabilities in infrastructure
engineering, program management and expanded environmental
technologies that ARCADIS is known for in the industry, to better
serve our expanding client base. In return, ARCADIS will be able to
benefit from our geographic coverage and depth of services to
assist their clients better." ARCADIS is an international company
providing consultancy, design and engineering and management
services in infrastructure, environment and facilities, to enhance
mobility, sustainability and quality of life. ARCADIS develops,
designs, implements, maintains and operates projects for companies
and governments. With more than 12,000 employees and $2 billion in
gross revenue, the company has an extensive international network
that is supported by strong local market positions. Except for
historical information contained herein, the statements in this
release are forward-looking statements that are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act 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, the risk that our
delisting from NASDAQ and subsequent deregistration with the SEC
will not become effective as currently anticipated, 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.
http://www.arcadis-global.com/ DATASOURCE: ARCADIS NV CONTACT: For
more information, contact: Joost Slooten of ARCADIS NV at
+31-26-3778604. Outside regular office hours please call
+31-6-2706-1880; email:
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