The first step involves a majority interest of 75% which will be completed early January 2008. The remaining 25% of the shares will be acquired after three years.

CANOR International’s turnover was EUR 1,5 million in 2006. CANOR International will make an immediate contribution to Grontmij’s profitability. No further financial details have been disclosed.

The takeover fits in with Grontmij’s strategy of increasing its market share in the focus countries Hungary, Ireland, Poland, the Czech Republic and Turkey. Grontmij’s home markets encompasses Belgium, Denmark, Germany, the Netherlands, the United Kingdom and Sweden.

Established in 1993, CANOR International specialises in the management of projects in building, transportation and environment, and plays a role in the development of the EU member country Hungary. CANOR International provides services in the following areas: urban and spatial planning, construction and technical consultancy, technical design, interior design, construction management and real estate management. The firm is located in Budapest and has approximately 40 employees.

Since 2003 CANOR International and Grontmij have worked together on environmental and water projects, among others. In 2005, the two companies signed a partnership agreement. CANOR International works for private parties as well as the government (including projects involving EU funds). Its clients include TESCO, General Electric, Samsung, Nokia, Bosch and the Hungarian Oil Company MOL.

Grontmij intends to be the best local service provider for consultancy, management, engineering and contracting of projects in building, transportation, environment, water, industry and energy. Our employees thus create value for our clients and shareholders and contribute to a sustainable living and working environment.