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| BAM sells Belgian water purification activities to CMI Royal BAM Group nv has reached agreement to sell its Walloon subsidiary Balteau sa to CMI Groupe at Seraing, Belgium. Balteau specialises in designing and constructing electromechanical installations for purifying, treating and pumping water. The company was founded in 1978 and is since 2005 a subsidiary of BAM. Balteau has an annual turnover of approximately €30 million and employs more than hundred people. BAM sees insufficient opportunities for further development of Balteau's activities in the Walloon market and considers the added value of this specialization for the Group limited. The transaction is in line with the streamlining of the organisation structure as recently announced. CMI (Cockerill Maintenance & Ingénierie) designs, installs, upgrades and services equipment for energy, defense, steel-making and other general industry markets. The international coverage of CMI Group will support Balteau's technologies to grow overseas. This transaction does not relate to the electrical and mechanical engineering activities of BAM in Belgium, which are carried out under the name Balteau ie. write your comments about the article :: © 2014 Construction News :: home page |