iCT COMPLETES ACQUISITION OF STAKE IN PROCOS ENGINEERS & CONSULTANTS B.V.
09/07/2006
Following the letter of intent signed at the end of June 2006, ICT Automatisering N.V. (“ICT”) yesterday completed the acquisition of a 100% stake in Procos Engineers & Consultants B.V. Procos focuses on the development of technical automation applications for medium-sized to large industrial companies. The acquisition is in line with ICT’s strategy to boost its position in industrial automation.
Procos is an innovative organisation which focuses entirely on the development of automation applications for industrial companies. The four business units offer total solutions in the fields of process automation, machinery automation, real-time embedded software and industrial information. They also offer a 24-hour service on all systems in production automation.
Procos’s engineers work for, among others, the top-50 of industrial companies in the Benelux, including Philips, Stork, Akzo, Unilever, Siemens and DSM. They provide services such as consultancy, fixed-price projects, outplacement and support. Procos currently has around 100 employees. Sales over 2005 amounted to approximately EUR 8 mln.
The purchase price is based on the profit Procos Engineers & Consultants B.V. realised in 2006. The results of Procos Engineers & Consultants B.V. will be included in ICT’s consolidated results as from 1 July 2006.