Conclusion of the transaction, , follows consultation with Hertel’s works council and approval by the relevant competition authorities.
Hertel’s offshore business is not included in this transaction and will continue to operate as a separate company under the name CKT Offshore. Hertel’s senior management will continue to be involved in CKT Offshore’s operations to ensure a seamless transition.
The combination of Altrad and Hertel will have a joint annual turnover of more than €1.6bn (£1.2bn) and employ approximately 17,000 people.
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