UPDATE 1-Imtech seeks higher revenue, margins

* To achieve 8 bln eur in revenue by 2015

* Targets EBITA margin between 6 and 7 pct by 2015

* Arranges new 700 mln euro syndicated bank facility

(Adds CEO statement, detail)

AMSTERDAM, Nov 2 (BestGrowthStock) – Dutch engineering group Imtech
(IMUN.AS: ) said on Tuesday it was targeting 8 billion euros of
revenue by 2015, 60 percent more than its current target, to be
achieved through both organic growth and acquisitions.

The company set new targets after it said it was within
reach of completing its 2008-2012 strategic plan, which calls
for revenue of 5 billion euro and an operational earnings before
interest tax and amortisation (EBITA) margin of 6 percent.

The 2011-2015 plan announced on Tuesday targets an
operational EBITA margin between 6 and 7 percent as well as
revenue of 8 billion euros. This implies doubling the
operational EBITA at a minimum in comparison to 2009, the
company said.

“Meeting the new targets will make Imtech an even stronger
player in Europe as well as beyond. We are ready for a new
ambitious phase in the development of our company,” Chief
Executive Rene van de Bruggen said in a statement.

Imtech, whose business spans electrical engineering,
information and communication technology (ICT) and mechanical
engineering, has completed seven acquisitions so far this year,
giving it an annual revenue boost of 270 million euros.

To finance growth and repay a 265 million euro loan due in
November 2011, the company said it had arranged a new 700
million euro syndicated bank facility maturing in November 2015.
Imtech said this would offer it a financial buffer of 1 billion

Imtech has relied on technology throughout its 150-year
history to win business. It brought the first steam machines for
loading and unloading ships onto the Dutch market and was
responsible for the first electric public lighting in 1888.
(Reporting by Greg Roumeliotis; Editing by Sara Webb)

UPDATE 1-Imtech seeks higher revenue, margins