CFE acquires majority shareholding in Terryn, Belgian market leader in bonded laminates

CFE has acquired a 55% shareholding in Terryn, Belgian market leader in the
production and construction of bonded laminate structure for the industrial and
tertiary sectors.
 
The Terryn group is based in Moorslede, near Roeselare, and is made up of the
following companies:
 
·         Korlam NV in Moorslede and Lamcol NV in Marche en Famenne: production
and assembly of wood laminate for load-bearing elements made of wood;
·         Spanbo NV in Moorslede: general contractor specialising in wooden
structures for industrial and tertiary sector facilities;
·         Ecotimber NV in Moorslede: engineered wood, wood recovery and
recycling as semi-finished products for the wood industry;
·         Terryn Hout NV in Moorslede: wholesale and retail supplier of wood
products.
 
These production centres are suppliers of certified sustainable wood products.
 
Terryn, founded in 1949, has over 120 employees and its own design office with a
range of specialists in the use of wood and wooden construction. Operating in
the Benelux and other European countries, it generates annual revenue in the
order of ¤30 million, with an average annual EBITDA of more then ¤3 million over
the past three years.
 
The acquisition of this shareholding, at the cost of ¤10.9 million, aims to
strengthen CFE's capacity to respond to the growing trend for sustainable
development in the market and enable it to combine Terryn's expertise as Belgian
market leader in bonded laminates with its own expertise in real estate
development and in public-private partnerships. Wood is the only renewable raw
material that is totally recyclable and CO(2) neutral. It gives architects and
builders scope for creativity and flexibility. Furthermore, it has excellent
heat and noise insulation properties.
 
Filiep, Geert, Johan and Stefaan Terryn will remain in charge of day-to-day
operation.
 
CFE is a multidisciplinary group of companies operating in construction and
associated services. Listed on Euronext Brussels, it is owned 47% by VINCI. CFE
is one of the major players in Belgium's construction industry, with a presence
in the Netherlands, Luxembourg and Central Europe. In addition, CFE owns 50% of
the share capital of DEME, one of the world's leading dredging contractors.
 
This press release is available on our website: www.cfe.be <http://www.cfe.be/>
 
For further information:
 
-          Renaud Bentégeat, Managing Director, tel: +32 2 661 13 27; mobile:
+32 497 514 445, rbentegeat@cfe.be 
-          Jacques Ninanne, Deputy General Manager Corporate and Chief Financial
Officer,
tel: +32 2 661 17 28,jninanne@cfe.be 
-          Yves Weyts, Manager, Synergies and Communication, tel: +32
2 661 14 52; mobile: +32 497 514 411, yves_weyts@cfe.be
 
[HUG#1421537]
 
PRESS RELEASE (PDF): http://hugin.info/135184/R/1421537/370843.pdf