PVE and ICE merge
By Alex Dahm06 October 2008
Dutch piling and vibratory hammering companies PVE-Dieseko and International Construction Equipment (ICE) have announced a merger with immediate effect.
The new company is ICE - PVE and both separate brand names will also be retained, as will the existing Netherlands and Singapore offices. "Through a combination of PVE's strong presence in Europe and the strong growth of ICE outside of Europe, the new company is well positioned to serve customers worldwide, with a complete range of products and services," a company statement read.
The merger was supported by the management and shareholders of both companies and was well received by employees, according to the statement, "The combination creates a strong and solid company with a sales level of approximately Euro 100 million (US$ 136 million) and an extensive range of products and a worldwide service network."
Ton Kraak (CEO) from ICE will head the management team, which also includes Machiel van der Schoot from ICE and Jan van Es from PVE. Senior management will remain an important shareholder and Greenfield Capital Partners, already an investor in ICE, has strengthened its shareholder position in the merged company.