Conclusion of the transaction, which was announced in March, 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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