Royal Imtech News

Imtech Marine, the maritime technologies arm of the recently bankrupt Royal Imtech N.V., announced it has signed on for a prolonged stay at the RDM Innovation Dock where technical students work to develop new maritime technologies such as autonomous and emission free sailing. According to Imtech Marine, Rotterdam’s position in the maritime market makes it “the perfect place to invest in a greener future” and “raise interest of technical talents to come and work in the maritime sector,” the company said in a press release.

Banks sell Imtech Traffic & Infra; sale of Imtech Germany launched. The administrators and creditors of collapsed Dutch engineering services firm Royal Imtech pressed on with the forced sale of its businesses to raise funds to settle its bills. The sale of the German unit started on Tuesday, with insolvency administrator Peter-Alexander Borchardt saying he had already received more than 40 expressions of interest. Imtech Germany filed for insolvency on Aug. 6, and the parent company followed suit a week later, capping a long slide that began in 2013 after accounting irregularities were uncovered at its Polish and German operations. The group has since hastily sold operations representing 43 percent of its revenues.

Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market. Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition. The acquisition price is not disclosed. The ailing Imtech was formally declared bankrupt on Thursday. The takeover creates peace of mind and security amongst employees, customers and suppliers. Imtech is  operating as a full-service provider and system integrator of tailor-made, innovative and sustainable technology solutions covering the whole ship. The company employs nearly 2500 staff at almost 100 offices in 30 countries, close to shipbuilding centers and along the shipping routes.

Pon Holdings and Parcom Capital announced they have agreed to buy Imtech Marine, the marine division of Dutch engineering services company Royal Imtech who has been declared bankrupt. No monetary figures have been shared. The final details of the takeover are yet to be worked out. Pon Holdings and Parcom Capital claim their advent as the new shareholders guarantees the continuity of Imtech Marine while also allowing the company to realize its growth ambition. The takeover creates peace of mind and security among employees, customers and suppliers, the buyers said in a press release. “We are extremely happy with Pon Holdings and Parcom Capital as the new ‘owners’ of Imtech Marine,” said René ten Brinke, Director Global Services of Imtech Marine.

Dutch engineering services company Royal Imtech has been declared bankrupt and its Marine and Nordic divisions are being sold to private investors, the company and its administrators said on Thursday. Imtech, which employs 22,000 people in 35 countries and has annual sales of roughly 4 billion euros ($4.5 billion), filed for protection from creditors on Tuesday after its German unit filed for insolvency. The break-up of Imtech, once a darling of the Amsterdam stock exchange, capped more than two years of financial turmoil triggered by accounting fraud at its Polish and German units. No figures were given, but Imtech said the sale of the two units would secure 7,300 jobs.

Royal Imtech N.V. (IM-AE, technical services provider in and outside Europe) announces that it has acquired the Belgian maritime technical services provider Van Stappen & Cada NV. This company realizes annual revenue of over 3 million euro. The acquisition will be paid in cash and will immediately contribute to the earnings per share. It will enable Imtech to further strengthen its position in the Belgian marine market. Van Stappen & Cada was established in 1991 and has its registered office in Antwerp’s port area. The firm specialises in marine electronics, electrical solutions and air conditioning and primarily concentrates on services, repairs, maintenance and renovation, with a strong focus on inland shipping.

Van Stappen & Cada has an annual revenue of over 3 million euro. The acquisition will be paid in cash and will immediately contribute to Royal Imtech's earnings per share. It will enable Imtech to further strengthen its position in the Belgian marine market. The Belgian company was established in 1991 and has its registered office in Antwerp’s port area. The firm specialises in marine electronics, electrical solutions and air conditioning and primarily concentrates on services, repairs, maintenance and renovation, with a strong focus on inland shipping. Its activities include electric systems, radar technology, propulsion, cameras, HVAC solutions and batteries.

The order is for the construction of a submarine rescue mother Ship (MoShip) and two rescue and towing Ships (RATships). All ships will be built by Istanbul Shipyard in Tuzla in Turkey and are scheduled to be delivered to the Turkish Navy by mid of 2015. Imtech's Turkish marine business unit Elkon was selected by Istanbul Shipyard to design, supply and commission the complete package of electrical systems. The supply range involves major components of the power generation, power distribution and propulsion systems, as well as an integrated vessel management system including power management and machinery monitoring & control. Electrical engineering and onboard installations, integrated logistic support and ship's engineering room and bridge consoles are also part of the supply scope.

Imtech N.V. (IM-AE, technical services provider in Europe and on the global marine market) announces that Her Royal Highness the Queen of the Netherlands has decided to grant Imtech N.V. the right to use the designation 'Royal'. This special Predicate is awarded today by Mr. Jan Franssen, Queen's Commissioner in the Provence of South Holland, in the presence of Mr. Ahmed Aboutaleb, Mayor of Rotterdam. Royal Imtech is now a fact. Imtech CEO René van der Bruggen: 'Naturally, we are proud on the fact that we are allowed to call ourselves 'Royal Imtech'.