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Hagemeyer News





Monday November 26 2001
Hagemeyer to lose millions
Hagemeyer fears it will lose millions of guilders as a result of the insolvency of former subsidiary Freetime. The angling products company was sold to German-Dutch investment company Forex Lloyd at the end of last year. Freetime was declared insolvent in September. New owner Forex still owes Hagemeyer Fl 16m, but Hagemeyer fears that Forex will not meet this obligation. Hagemeyer has since launched a legal procedure to claim the millions from the investment company.

Thursday November 1 2001
Hagemeyer: update on 2001 Outlook
Hagemeyer: The Group's markets which had already started to slow in the second quarter of 2001 have contracted significantly in September with a corresponding drop in sales. Analyses of sales in October confirm this trend. A review of the forecast of all of the Group's businesses for the remainder of 2001 has resulted in the Group now forecasting that its cash earnings per share for 2001 will be flat compared to the prior year, although this may vary by a few percentage points, positive or negative, depending upon further developments in market conditions.

Wednesday March 7 2001
EU to rule on Getronics, Hagemeyer ICT merger by April 2
The European Commission said it will rule on the merger of Getronics and Hagemeyer Dutch information and computer technology (ICT) hardware distribution units Datelcom BV and Codis BV by April 2 after the companies filed extra information. The commission had initially declared the merger notification incomplete and hence stopped its one-month probe.

Wednesday February 28 2001
Results 2000 of Hagemeyer
Hagemeyer on Wednesday announces its financial results for 2000. Strong organic growth of 9.4% was recorded in 2000, compared to 10.1% for the first half and 8.8% in the second half of 2000. The PPS division achieved 7.3% organic growth in 2000, whilst the ITPS division achieved 12.5%, both well in excess of their respective targets.

Thursday January 18 2001
Intentia gets Hagemeyer contract
INTENTIA International has secured a contract worth over Euro 70 million (RM250 million) to provide electronic collaboration (e-collaboration) technology to Dutch business-to-business distribution services group Hagemeyer in the Asia-Pacific. The minimum 10,000-user contract which spans several years involves all Hagemeyer entities, including Tech Pacific which also has a significant presence across the region.

Wednesday January 17 2001
EU seeks comments on Getronics, Hagemeyer's ICT ops merger
The European Commission said it invites comments under the EU's merger regulation on Getronics and Hagemeyer planned merger of their Dutch information and computer technology (ICT) hardware distribution activities. Getronics unit Datelcom BV and Hagemeyer unit Codis BV are set to merge, it said. Interested third parties have 10 days to submit their comments. The commission has until Feb 5 to rule on whether to clear the operation or open a four-month in-depth investigation.

Thursday December 14 2000
Hagemeyer to buy Spain's Almacenes de Baja y Media
Hagemeyer said it has acquired Spain's largest electrical distributor Almacenes de Baja y Media for an undisclosed amount. ABM has annual sales of EUR 235 mln and is mainly active in construction and installation markets with 69 branches in Spain and one in Portugal. The acquisition will be financed internally and will be accretive to earnings per share in 2001, Hagemeyer said.

Friday November 24 2000
Hagemeyer assessing strategic options for tech pacific
Hagemeyer N.V. announced on Friday that Salomon Smith Barney has been engaged to advise Hagemeyer on its strategic options in relation to the Tech Pacific Group of companies. These options include an initial public offering or sale of Tech Pacific. Tech Pacific is the leading distributor of PC's, IT hardware, software and peripherals in the Asia Pacific region with operations in eight countries and sales in 2000 expected to be approximately EUR 1.4 bn (AUD 2.4 billion).

Distribution activities of Hagemeyer in Belgium
At the time of the publication of the interim results Hagemeyer announced that as a result of the poor performance of Computerij Groep it would withdraw from its service activities and would transfer its Codis distribution activities to a new company. A provision was made for this restructuring. In September Hagemeyer announced its discussions with Getronics N.V.

Tuesday September 19 2000
Hagemeyer says Cambar employees accept USD 264 mln acquisition offer
Hagemeyer said the employees of Cameron & Barkley Co (CamBar) of the US voted in favour of its offer to acquire the company, with the purchase price set at USD 264 mln. In addition, Hagemeyer will assume USD 54 mln of debt. Hagemeyer announced its offer in June, when it said CamBar will contribute to earnings per share before goodwill in 2001.

Monday September 4 2000
Hagemeyer, Getronics in distribution deal
Hagemeyer and Getronics announced om Monday that the companies are talking about merging their Dutch ICT hardware distribution companies, which trade under the names Codis (part of Computerij Groep) and Datelcom (part of Getronics). Both parties are working towards finalising the transaction during the fourth quarter, the companies said.

Friday September 1 2000
Hagemeyer H1 net profit EUR 295.3 mln
Hagemeyer reported on Friday ordinary profit after taxes and before amortisation of goodwill for the first-half of 2000 was EUR 95.2 mln, up 8.4% compared with the first-half of 1999. Net profit for the first-half of 2000 came to EUR 295.3 mln including an extraordinary gain of EUR 200.7 mln, compared with a net loss of EUR 91.2 mln the company booked in the comparible period of 1999.

Wednesday August 2 2000
Hagemeyer acquires Australian power company
Hagemeyer said on Wednesday that it has reached agreement on the acquisition of Pacific Dunlop's Electrical Group in Australia. With annualised sales of AUD$ 800 million (EUR 508 mln), the Electrical Group (TEG) is Australia's largest electrical distributor with a market share of 29%, operating under the names of Lawrence & Hanson and Auslec.

Friday June 30 2000
Hagemeyer sells Case Logic Group
Hagemeyer said it sold US-based Case Logic Group, a marketer of lifestyle-oriented organisational solutions for home and office media, to KRG Capital Partners LLC, in line with its strategy to focus on business-to-business distribution and service activities. Hagemeyer said the sale of its three non-core activities, including ARM Stokvis, Pollyconcept and Case Logic, will bring in proceeds "in excess" of EUR 560 mln, to be reinvested into the company's core activities.

Tuesday June 27 2000
Hagemeyer sees divestments raising more than EUR 500 mln
Hagemeyer expects that the divestment of its three consumer product units will raise more than the company's earlier estimate for proceeds of EUR 500 mln. The company has already announced the sale of ARM Stokvis and PollyConcept and expects to announce the sale of the remaining unit Case Logic within the next three weeks, said Ivo Manders, secretary to the executive board.

Friday June 23 2000
Hagemeyer buys US distributor
Hagemeyer announced on Friday that it has signed a Letter of Intent to acquire 100% ownership of Cameron & Barkley. Cameron & Barkley is a US leader in the distribution of industrial, electrical, safety and other MRO (maintenance, repair and operations) products and a recognized provider of Integrated Supply services.

Latest acquisition important step - Hagemeyer
Hagemeyer's acquisition of the US' Cameron and Barkley is an important step in the company's efforts to build a global network for supplying electrotechnical goods to major industrial manufacturers, said Hagemeyer chief executive Rob ter Haar. Increasingly industrial companies are looking to outsource the purchasing of so-called non-production goods, goods which support rather than form a part of the production process, Ter Haar said.

Tuesday June 13 2000
Hagemeyer acquires WF Electrical
Hagemeyer announced on Tuesday that it has agreed with the Board of Directors of WF Electrical (WF), a London Stock Exchange listed company, the terms of a recommended cash offer for the whole of the share capital of WF. The offer represents GBP 5.65 (EUR 8.93) for each WF share, valuing the existing issued share capital of WF at approximately GBP 85.5 mln (EUR 135 mln), and represents a 65% premium over the closing price of the WF share on June 12, 2000.

Thursday April 27 2000
Hagemeyer says strategy on course
Hagemeyer said it expects the timing of divestments and acquisitions "to restrain growth in the company's earnings in 2000". At its annual meeting of shareholders, the company said it expects to complete its divestment programme of non-core operations by the Summer. Also, the company will continue to pursue its acquisition strategy in the business-to-business markets, specifically the US, it said.

Hagemeyer to use Thailand as springboard
Hagemeyer plans to use Thailand as a springboard to expand its distribution and marketing business to Indochina this year, the Bankkok post reported on Thursday. The Thai subsidiary, Hagemeyer (Thailand), recently opened a new office in Chiang Mai to oversee product marketing and logistics services for customers in Indochinese countries, and it is expected to begin trading this year.

Wednesday March 22 2000
Hagemeyer sells Stokvis
Hagemeyer announced on Wednesday announces the sale of its non core automotive activities of ARM-Stokvis, comprising the Cars, Leasing & Finance, Equipment and Parts divisions, to Dutch Kroymans Group. No redundancies are expected as a result of this acquisition, Hagemeyer said. Together with the sale earlier this year of the group's interest in the Dutch Avis operations and the Renault Truck activities, all of Hagemeyer's automotive activities have now been sold.

Thursday March 2 2000
Hagemeyer acquires 50% of El-Centrum
Hagemeyer said on Thursday that it is taking a 50% stake in El-Centrum from Poland's Elektromontaz for an undisclosed sum. Hagemeyer said it expects the acquisition to make a positive contribution to its results from January 1. Hagemeyer said it will finance the acquisition from its own funds El-Centrum is the market leader in Poland for the distribution of electro-technical materials and related services, Hagemeyer said.

Tuesday February 22 2000
Hagemeyer net profit down EUR 142.4 mln
Hagemeyer reported on Tuesday net profit for 1999 fell to EUR 49.7 mln, compared with net profit of EUR 192.1 mln the company booked in the comparible period of 1998. Net profit plunged due to an atraordinary charge of EUR 169.9 mln related to Hagemeyer's stake in troubled retail group Ceteco. Profit from ordinary operations increased from EUR 212.1 mln to EUR 219.5 mln.

Friday January 21 2000
Hagemeyer expands in Germany
Hagemeyer announced on Friday that its German subsidiary Froschl has acquired the the Heberlein & Probst Group, the Murdel Group and Union-Elektro-Grosshandel, with combined annual sales amounting to EUR 120 mln. Financial details of the acquisitions were not disclosed. Hagemeyer said that the acquisition would enhance Froschl's position as the leading electrical materials distributor in Germany with annual sales in excess of EUR 1 bn.

Monday January 17 2000
Hagemeyer divests consumer units
Hagemeyer announced on Monday that its subsidiary A.R.M.-Stokvis has sold its 66.7% interest in the Dutch Avis operations to Avis Europe. Hagemeyer said that an agreement has been reached to sell A.R.M's Renault Truck operations to Renault of France and to sell Pollyconcept's Edelman Green operations in Holland to Hogoplant of De Lier.

Monday December 27 1999
Hagemeyer increases stake in Proveedora
Hagemeyer's recently acquired Vallen Corporation in the United States increased its 50% stake in Proveedora de Seguridad Industrial del Golfo to 90%. Management will keep the remaining 10%. Proveedora, with sales of EUR 40 mln and a network of 16 branches, is located in Tampico, Mexico. Like Vallen in the United States, Proveedora is the leading distributor of industrial safety and health products and related services in Mexico.

Monday December 20 1999
Hagemeyer finalises Vallen takeover
Hagemeyer announced on Monday that it has received official approval in the US to take over Vallen Corporation of Houston. Hegemeyer said that 99% of the shares at a price of USD 25 per share have been tendered. Vallen Corporation distributes industrial safety and health products in North America. The company has annual sales of USD 350 mln.

Tuesday December 14 1999
Hagemeyer acquires Australian Soanar
Hagemeyer announced on Monday the the acquisition of Melbourne based Soanar. Operating in Australia and New Zealand, Soanar has annual sales of some A$ 40 mln (EUR 25 mln) and is a specialised distributor of electronic components, equipment and associated products. The company offers customised engineering and design services and its customer base includes system integrators and other assemblers/manufacturers.

Monday November 15 1999
Hagemeyer to bid for Vallen Corporation
Hagemeyer announced on Monday that the company has reached an agreement with Nasdaqy listed Vallen Corporation to acquire all shares in the Houston, Texas-based company. Hagemeyer will commence a cash tender offer for all outstanding shares of the company at a price of USD 25.00 per share. The majority shareholders, the Bruce family, have agreed to tender their 56% holding at this price, Hagemeyer said.

Friday November 12 1999
Hagemeyer buys US Tristate Electrical
Trading company Hagemeyer said on Friday it had agreed to buy Tristate Electrical & Electronics Supply Co in the United States. Tristate posts annual turnover of about EUR 185 mln (USD 192.2 mln) and is the leading electrical distributor in the eastern region of the US The firm is based in Maryland and has 34 branch locations in various states.

Tuesday October 26 1999
Hagemeyer investors take back seat
Hagemeyer will finance any future acquisitions from its own resources and via the capital market, and is unlikely to issue shares under the current market conditions, reported Het Financieele Dagblad, citing an interview with chief executive officer Rob ter Haar. Hagemeyer's market capitalisation has halved in the past two years.

Thursday October 21 1999
Hagemeyer in acquisition drive
Hagemeyer announced on Thursday that it has acquired Peco Tapes of the Netherlands and Simonsen & Eek of Norway. Both companies are active in the marketing and distribution of specialty tapes and adhesives and service a client base comprising the aerospace, automotive, telecommunication and graphics and paper industries.

Friday October 8 1999
Hagemeyer strengthens position in India
Hagemeyer announced on Friday that its wholly-owned subsidiary Tech Pacific, headquartered in Australia, has reached agreement with Godrej & Boyce Limited to acquire its 50% interest in the Godrej Pacific Technology Limited joint venture (GPTL) in India. On completion of this transaction, GPTL will become a wholly-owned subsidiary of Tech Pacific.

Thursday August 26 1999
Hagemeyer H1 in the red due to Ceteco
Hagemeyer reported on Thursday a net loss for the first-half of 1999 of EUR 91.2 mln, compared with net profit of EUR 90.8 mln the company booked in the comparible period of 1998. The first-half of 1999 is affected by the ordinary loss of EUR 179.0 mln after tax incurred by Ceteco in the first two months of the year, after which date it was deconsolidated.

Monday July 26 1999
Ceteco creditors blame Hagemeyer
A group of 14 large creditors of Ceteco is seeking to blame its failure on Hagemeyer, according to Dutch newspaper Het Financieele Dagblad. The creditors claim that Hagemeyer should have taken a larger role in the management of Ceteco. Hagemeyer holds a 66.4% stake in Ceteco and has nominated two of its six supervisory board directors. The group of creditors, headed by Citibank which is owed NLG 70 mln, say it was already clear in January that Ceteco was in serious financial problems.

Monday July 5 1999
Hagemeyer writes off Ceteco stake
Hagemeyer is taking a NLG 395 mln provision this year, of which three-quarters will be used to fully write off its 66% stake in Ceteco. Ceteco requested court protection from creditors on Friday. The other 25% is necessary for the implementation of a news strategy, Hagemeyer said. The company has set aside a NLG 68 mln provision against a subordinated loan furnished to its ailing subsidiary.

Friday May 21 1999
Rabobank acquires 5.5% stake in Hagemeyer
Rabobank has acquired a 5.5% stake in Hagemeyer. Against current bourse prices, the stake has a value of approximately NLG 400 mln.

Friday February 26 1999
Wessanen buys Hagemeyer US units
Wessanen has acquired the North American food subsidiaries of trading house Hagemeyer for an estimated NLG 200 mln. The four Hagemeyer companies, active in distribution of delicatessen and other specialty foods, generate annual sales of about USD 300 mln. Wessanen is US market leader in delicatessen and organic foods.

Monday February 22 1999
Hagemeyer tumbles on poor earnings
Investors on the AEX lost faith with Hagemeyer on Monday, after it reported disappointing half-year figures at the end of last week. The trading house's shares closed 4.4% lower at EUR 34.90.

Thursday February 18 1999
Hagemeyer expands into clothing
Hagemeyer aims to become a leading player in the market for protective clothing, safety helmets, shoes and hygiene products, chairman Andrew Land said on Thursday at the presentation of the company's 1998 earnings. To this end, the company has taken over Parker of the UK, a company which supplies protective clothing for construction workers. Parker has 20 outlets and annual sales of NLG 230 mln and will contribute directly to profits, Hagemeyer said.

Hagemeyer net profit up 14%
Hagemeyer reported on Thursday net profit for 1998 increased 14% to NLG 423.4 mln, compared with net profit of NLG 372.1 mln the company booked in the comparible period of 1997. The 1998 net profit includes a reorganisation charge of NLG 44.1 mln. Turnover increased 25% from NLG 11,465.4 mln to NLG 14,339.6 mln.

Thursday January 28 1999
Hagemeyer acquires all Computerij shares
Hagemeyer announced on Thursday that it has acquired 49% of the shares in Computerij Groep of Zwolle it did not already own. Hagemeyer now holds a 100% stake in the IT company. In 1997, Hagemeyer concentrated its Dutch and Belgian IT activities in the group and acquired a 51% stake. Currently Computerij has annual turnover of some NLG 1 bn and employs 900 people. Hagemeyer said the acquisition will contribute to its earnings per share. Financial details of the acquisition were not provided.

Thursday November 5 1998
Hagemeyer acquires three firms
Hagemeyer has acquired companies in Germany, Austriaand Australia with combined annual turnover of NLG 400 mln. The acquisitions will contribute to profit per share and will be financed from cash. In Germany, Hagemeyer and Froschl have taken over electrical engineering wholesaler Bruck Elektrofachgrosshandel.

Friday September 25 1998
Hegameyer chairman retires next year
Hagemeyer said on Friday that its chairman, Andrew Land, will be replaced by Rob ter Haar after Land's retirement next year. Rob ter Haar is currently chairman of the supermarket group De Boer Unigro. Land has headed Hagemeyer since 1986.

Thursday August 27 1998
Hagemeyer H1 net profit up 39%
Hagemeyer reported on Thursday net profit for the first-half of 1998 increased 39% to NLG 200.2 mln, compared with net profit of NLG 143.7 mln the company booked in the comparible period of 1997. Turnover increased 52% from NLG 4,614.7 mln to NLG 7,003.1 mln. Operating income increased 48% from NLG 229.3 mln to NLG 339.9 mln.

Monday August 10 1998
Hagemeyer sells Switch and Frame Relay
Hagemeyer has sold its Australian companies Switch Telecommunications and Switch subsidiary Frame Relay for AUD 36 mln (USD 22 mln) to US-based telecommunications company Telegroup. The takeover was finalised on August 7, 1998. Both companies are based in Sydney.

Friday March 20 1998
First Pacific's stake in Hagemeyer placed
First Pacific's stake in Hagemeyer has been placed at NLG 89 a share on Friday. According to chairman Andred Land, the issue was heavily oversubscribed. He said 40% of the shares had been placed in the Netherlands, 20% in the US, 20% in the UK and the rest elsewere in Europe. A green shoe option exercised brought the total of shares placed to 40.9 mln.

Monday March 9 1998
Hagemeyer shares reissued
John Shakeshaft, of lead-manager ING Barings, predicts that more than half the Hagemeyer shares being reissued are expected to be bought by Dutch-based investors. Shakeshaft says Hagemeyer is not interested in a US bourse listing. An American Depository Receipts program is being considered. The shares reissued represent a 39.7% stake in Hagemeyer, sold by First Pacific.

Monday February 16 1998
Hagemeyer reports net profit 30% up at NLG 372 mln
Hagemeyer reports a net profit of NLG 372.1 mln, or 30% up, for 1997. In 1996, the company booked a net profit of NLG 285.2 mln. Turnover rose with 40% from NLG 8216.2 mln in 1996 to NLG 11,465.4 mln in 1997. Earnings per share increased with 16% from NLG 3.36 to NLG 3.90. Hagemeyer says the financial crisis in Asia brings new opportunities.

Monday January 12 1998
First Pacific to sell its 40% stake in Hagemeyer
First Pacific (Hong Kong) is to sell its 40% stake in Hagemeyer as a result of a 'reorientation' (Asian financial crisis). Against current stock exchange prices the 40% stake has a value of NLG 3.3 bln. Hagemeyer plans to buy in about 10% of its own shares, worth about NLG 800 mln from First Pacific.

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