M&A Activity • Jul 1, 2014
M&A Activity
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Leidschendam, the Netherlands, 1 July 2014
Fugro has completed the acquisition of the Geofor Group based in Libreville (Gabon), Douala (Cameroon), Pointe Noire (Republic of Congo) and São Tomé City (São Tomé) to strengthen its presence in the Central Africa region and the French speaking African countries. In addition to its longer established offices, Geofor has significant working experience in Niger, Chad and Equatorial Guinea.
Geofor is an onshore/ nearshore geotechnical company which delivers drilling services and has highly specialised engineers and geologists in the fields of geotechnical consulting, hydrology, and land survey. The company was established in 1989 and has over 25 years of experience working in most countries in Africa. The client base includes major oil & gas companies and key mining clients. In addition, Geofor is active in infrastructure and water supply projects. The company generated revenues of about EUR 25 million in 2013 and employs around 600 people.
This acquisition represents a further milestone in Fugro's growth strategy in Africa. Combined with the recent acquisition of Earth Resources in South Africa and its newly established offices in Angola, Mozambique, Tanzania and Uganda, Fugro is building a strong presence and leadership position in Africa for its services.
For more information: Media Rob Luijnenburg [email protected] +31 70 31 11129
Investors Catrien van Buttingha Wichers [email protected] +31 70 31 15335
ABOUT FUGRO
Fugro creates value by acquiring and interpreting Earth and engineering data and providing associated consulting services to support clients with their design and construction of infrastructure and buildings. Fugro also supports clients with the installation, repair and maintenance of their subsea infrastructure. Fugro works around the globe, predominantly in energy and infrastructure markets offshore and onshore employing approximately 12,500 employees in over sixty countries. In 2013 Fugro's revenue amounted to € 2.4 billion; Fugro is listed on NYSE Euronext Amsterdam and is included in the AEX-index.
Fugro N.V. - P.O. Box 41 - 2260 AA - Leidschendam -The Netherlands - Tel: +31 70 3111422 - Fax: +31 70 3202703 - Trade Register: nr 27120091 – VAT Nr: 0056 21 409 B01 - [email protected]
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