Altrad and Belle Group Merger

On Friday 16th January 2009, Altrad Group, with its head quarters in Montpellier France, acquired Belle Holdings Ltd, known as the Belle Group with its head quarters in Staffordshire in England. Altrad specialise in the manufacture and sales of scaffolding, wheel barrows, equipment for local councils and cement mixers and Belle with compaction equipment, cement mixers, concrete finishing equipment, cutting equipment, mini dumpers, power packs and breakers. Dr Altrad, CEO, the majority shareholder of Altrad, and Ray Neilson, Belle Group Managing Director stated that the acquisition “is in line with the long term strategy of Altrad” and commented that the merger would have the benefit of enabling customers to have a broader range of products than is currently offered and the ability to increase the rate of product development for the market. The management teams in the two Groups will remain in place.