ERIKS strengthens its market position in BelgiumFrom
Executive Board ERIKS group nv
+31-72 54 75 888
7 July 2006
THE ERIKS GROUP STRENGTHENS ITS MARKET POSITION IN BELGIUM
Acquisition RIV-Charleroi s.a., Belgium
On 6 July 2006 the ERIKS group acquired all commercial activities of RIV-Charleroi s.a. The due diligence has been completed and the agreements have been signed.
The acquired activities comprise the marketing and sales of a wide range of technical components and power transmissions to the industrial maintenance market, mainly in the area of Charleroi. With six employees RIV-Charleroi s.a. achieves sales of well over € 2.5 million.
The product range consists of:
- bearings 60%
- mechanical power transmissions 20%
- other MRO products 20%
This acquisition fits in with ERIKS’ strategic choice for forward integration and strengthens its market position in the Walloon provinces in Belgium as well as its leading market position in bearings and power transmissions in Belgium. Opportunities for synergy with the other branches in this area (Mons, Louvain-la-Neuve and Liège) will be further developed.
The funds required for this acquisition have been fully financed from the company’s own resources.
This acquisition is to be expected to contribute immediately to the operating result.
For further information please contact Mr. J. van der Zouw, CEO and/or Mr. J.G. de Boer, CFO