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    Heerema acquires INTEC

    News // December 1, 2000
    Heerema Holding Construction, holding company for the Heerema Group, and INTEC Engineering have entered into a Stock Purchase Agreement whereby the Heerema Group will acquire 100 per cent of the issued and outstanding share capital of INTEC. The transaction is expected to close prior to year-end. Financial terms of the deal were not disclosed.

    INTEC is a leading engineering and project management company serving the international oil and gas industry. Its technical disciplines include marine pipelines and terminals, subsea production, floating production and onshore/offshore facilities.

    Acquisition of the company represents an excellent opportunity for the Heerema Group to strengthen its position in the market for EPC (engineering, procurement and construction) services, in particular in the deepwater segment."INTEC's expertise and range of activities are an excellent addition to the current activities of the Heerema Group and will enable us to play a major role in the development of onshore and offshore oil and gas reserves, with a strong focus on deepwaterreserves", said Pieter Heerema, the Group's President.

    INTEC will be the fifth operating company within the Group, having its own management and supervisory board. This independent status will allow INTEC the autonomy to continue to provide its unbiased engineering services to the energy industry worldwide.

    As a member of the Heerema Group INTEC will play a key role in enabling the Heerema Group companies to offer clients total solutions, including design, fabrication and installation of all required hardware. Joint activities of Heerema Group companies canoffer a unique set of skills, expertise and equipment.

    The Heerema Group now consists of five independently operating companies: Heerema Offshore Installation Group, Heerema Fabrication Group, Heavy Transport Group (Dockwise), Heerema Infrastructure, and now INTEC Engineering.

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