CFE (D) : Acquisition of ETEC SA
10/14/2011| 12:05pm US/Eastern
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PRESS RELEASE
under embargo until Friday October 14, 2011 - 17H40 CETCFE Acquisition of ETEC SA
CFE has acquired the company ETEC SA. This company, situated in Manage (Hainaut - Belgium) is specialized in public lighting and in the laying of underground networks. From 2008 to 2010, it realized an average turnover of 16 millions euros per year and an average net-result of 0.2 million euros per year. The company currently employs 20 staff members and managers as well as 160 labourers. The management team of ETEC SA will continue to run the company.
Through this acquisition, for an amount of 1 million euros, CFE expands its field of activity of its multitechnics division and gets a foothold in the field of public lighting. It further reinforces its activity of underground networks.
CFE is a multidisciplinary group of companies operating in construction and associated services. It is listed on Euronext Brussels and is owned 47% by VINCI. CFE is a major player in Belgium’s construction industry, with a presence in the Netherlands, Luxembourg, Central Europe, the Middle East and Africa. CFE owns 50% of DEME, one of the world’s leading dredging contractors.
This press release is available on our Website at www.cfe.be
Further information
Contact CFE:
- Renaud Bentégeat, Managing Director, tel +32 2 661 13 27, rbentegeat@cfe.be
- or Bernard Cols, General Manager multitechnics division, tel 02/661.18.22, bcols@cfe.be
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