Dutch firm to buy Irish engineering company

Imtech NV, a Dutch technical services provider, is to buy the Irish firm Suir Engineering Ltd.

The transaction, which is subject to approval from the Irish Competition Authority, is expected to be completed by the end of the fourth quarter of 2007.

Suir Engineering had a turnover of €68m in the financial year ended July 31, 2007.

Suir Engineering, which has its headquarters in Waterford City and an office in Dublin, employs over 550 people.

Suir Engineering is a mechanical, instrumentation and electrical engineering contractor providing services to commercial, industrial, institutional and government bodies.

Established in 1984, Suir has worked on projects for Aer Rianta (Cork Airport & Dublin Airport), the Beacon Court Clinic, Iarnrod Eireann, Edenderry Power Station, OPW / Department of Health, IBM, Intel, Wyeth, Bausch & Lomb, Genzyme and Johnson & Johnson Guidant / Abbott.

The acquisition of Suir will be the first deal made by Imtech in the Republic of Ireland.

Headquartered in Gouda, Imtech has 17,000 employees and annual revenues of approximately €3bn.