Bateman Litwin Acquires Slovakian Engineering Firm

Bateman Litwin has signed an agreement to acquire 100% of IDO Hutny Project A.S., a Slovakian engineering and design company whose projects are concerned with the oil and gas industry and other industrial sectors.

Hutny is a multi-discipline, full-service engineering company with a strong client base and significant presence in Eastern Europe. The company was founded in 1951 and has more than 130 employees. In 2006, Hutny reported revenues of over US$10 million.

Hutny is headed by Lubomir Turkovic, who will continue as the company's general manager. This management team, instrumental in achieving Hutny's results over the years, is committed to working in the company for a minimum period of three years.

Shuki Raz, CEO of Bateman Litwin, said:

"I am delighted to welcome Hutny to the Bateman Litwin Group. Hutny is a well-managed company with an excellent reputation. This acquisition is in line with our previously announced strategy to increase the Group's capacity through high efficient and multi-discipline engineering centers and to establish additional EPC execution centers. It will also allow us to penetrate new markets. We are confident that our clients, and potential clients in Europe, will welcome this acquisition, as it enhances our ability to execute their projects, particularly mid-sized EPC turnkey contracts."

Bateman Litwin focuses on mid-sized Energy EPC contracts, principally executed on a lump-sum turnkey (LSTK) basis. Bateman Litwin also provides technology solutions to the Phosphate Sector and Solvent Extraction Applications.