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BAM announces acquisition of Strukton’s share in Tidal Bridge from Strukton Bunnik, the Netherlands, 28 May 2018 – BAM International bv announces it will acquire Strukton International’s majority share in the joint venture Tidal Bridge BV. BAM’s remaining partner in Tidal Bridge BV in Eindhoven, the Netherlands, is Dutch Expansion Capital (DEC). The joint venture was established in 2015 for the realisation of floating power plants that convert tidal energy into electricity. In May 2017 Tidal Bridge started a feasibility study for the construction of a $225-million floating bridge on the Indonesian island Flores, the Palmerah Tidal Bridge project. Turbines beneath the bridge will generate up to 30 megawatts from the tidal movements, providing electricity for over 100, 000 people in the region. The share transfer is related to a strategic decision by Strukton to discontinue its activities in the Indonesian market. BAM International, which has been active as a construction and infrastructure contractor in Indonesia since 1970, is the ideal partner for the realisation of the Palmerah Tidal Bridge project as well as the international dissemination of the Tidal Bridge concept. The acquisition is in line with BAM International’s strategic objective to maintain its position as market leader in international nearshore construction. Further information: - press: Mariëlle Paul, +31 30 659 86 23, marielle.paul@bam.com; - analysts: Joost van Galen, +31 30 659 87 07, joost.van.galen@bam.com. AP/gc/18/0015e -------------------------------------------------------------------------------- About BAM Royal BAM Group nv is a construction company with ten operating companies, active in Construction and Property, Civil engineering, as well as in Public-private partnerships. BAM has leading positions in five European home markets: the Netherlands, Belgium, the United Kingdom, Ireland and Germany. Furthermore, the Group delivers projects in Denmark, Luxembourg and Switzerland, while BAM International operates in niche markets worldwide. Sustainability and innovation are major drivers of BAM’s design, construction and facility management solutions. The Group has an aspiration to become the market leader in the use of digital technology to ensure that clients receive the highest possible standards of quality. BAM has annual revenues of more than €6.5 billion, employs approximately 20, 000 people and is listed on Euronext Amsterdam. Building the present, creating the future. www.bam.com |
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