Iv-Groep acquires HFG Engineering US activities

Acquisition of HFG Engineering US will enable Iv-Groep to strengthen its position in the American market. HFG Engineering US provides worldwide engineering services to clients in the onshore and offshore oil & gas industry, offshore wind energy, biofuels and tar sands. The transfer will create opportunities for Iv-Groep to enhance its current activities in the United States in such fields as the infrastructure market. The transaction will result in all ongoing contracts and projects being transferred to a new company called Iv-AGA. All 100 employees will join Iv-AGA effective the same date. "HFG has had a very close relationship with Iv-Groep for many years and we are convinced that this step will assure the further development of the existing activities of HFG Engineering US," said Arend Drenthe, CFO of Heerema Fabrication Group. "This transfer will enable Heerema Fabrication Group to focus on its core activities in Northwest Europe," added Wim Matthijssen, COO of Heerema Fabrication Group. "The relationship with Iv-Groep will give us access to engineering knowledge and experience as a stepping-stone towards projects in West Africa that will create opportunities for our production sites in the Netherlands and the United Kingdom." "This acquisition opens up enormous possibilities for Iv-Groep, especially for the Iv-Oil & Gas division," said Rob van de Waal, Managing Director of Iv-Groep. "Iv-Oil & Gas is active mainly in the West European market. The acquisition enables us to spread our wings to the US and achieve growth." Wim Bal, Managing Director of Iv-Oil & Gas, underscored the words of Mr. van de Waal and added: "The oil and gas market is controlled largely from Houston and we now have opportunities for our engineering services as well as for our subsidiary Escher Process Modules that specialises in gas processing installations." About Heerema Fabrication Group Heerema Fabrication Group is a leading engineering and fabrication contractor for large and complex offshore structures. The group serves the global oil, gas and wind energy industry. HFG owns three large production sites in the Netherlands and the United Kingdom plus a manufacturing facility in Poland. Heerema Fabrication Group employs over 1,000 people and is part of Heerema Group. For more information visit www.heerema.com. About Iv-Groep Iv-Groep is a globally operating consultancy and engineering company with a wide array of engineering know-how and a specialist in complex projects. The company provides multidisciplinary services in the industry, infrastructure, oil & gas and water markets. Iv-Groep is active worldwide from offices in the Netherlands and other countries. Iv-Groep employs 700 professionals. For more information visit www.iv-groep.nl.