HomeWorld RegionsEuropeBabcock Borsig Power raises its stake in NEM to 98 percent

Babcock Borsig Power raises its stake in NEM to 98 percent

Oberhausen, April 4, 2001à‚–Babcock Borsig Power GmbH (BBP) is taking on an additional 25 percent of the Netherlands NEM group from HBG, Hollandische Beton Groep nv. As a result, BBP now holds 98 percent of the shares in the internationally leading manufacturer of heat recovery boilers.

“Another important step for us in the promising gas-operated combined-cycle power plant market” – this is how BBP boss Hans Fechner justifies the acquisition. “These particularly economical, clean plants will make up 60% of planned new power station construction over the next few years”. BBP supplies both turnkey CC plants and heat recovery boilers for the power plant industry. Globally NEM employs over 500 staff and in the past fiscal year posted sales of EUR 260 million and an order intake of some EUR 480 million

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