De Bilt, 14 May 2012 - Grontmij N.V. announces that it has sold its UK dispute resolution and contractual advice consultancy, Trett Consulting (Trett), to Driver Group Plc. As announced in the Q1 2012 press release and discussed at the annual General Meeting of Shareholders on 9 May 2012, Trett was classified as held for sale, pending its intended divestment.
Trett's services are considered as non-core to Grontmij's operations focused on the delivery of Engineering Consultancy services. The disposal will further facilitate Grontmij's focus on realising profitable organic growth.
In 2011, Trett's revenues were about € 16.8 million (£ 14.0 million) while the company employs some 70 employees. In connection with the sale, Grontmij will receive a consideration of € 3.6 million. The transaction will lead to a book result of about nil.
John Chubb, Managing Director of Grontmij in the United Kingdom said: 'Following the release of our 'Back on Track' strategy early this year, the disposal of Trett is another move in the restructuring work stream as we focus on our core markets and core capabilities. I believe that the acquisition by Driver of Trett is a good fit and that represents value to both companies.'
To the press release on our website (http://www.grontmij.com/MediaCenter/Pages/press-release-grontmij-sells-trett-consulting-driver-group.aspx)
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For more information please contact
Grontmij N.V., Frits Vervoort, CFO, T +31 30 220 72 02
Grontmij N.V., Michele Negen, Investor Relations Manager, T +31 30 220 78 31
www.grontmij.com (http://www.grontmij.com)
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Source: GRONTMIJ N.V. via Thomson Reuters ONE
