Triple P Reports Acquisition of a Majority Stake in ES@S Belgium; Results of Second Quarter to be Reported in September to Refle
07 Juillet 2005 - 3:30PM
Business Wire
Triple P N.V. (Nasdaq:TPPP), announced that it increased its
holding in E-Services @ Solutions N.V. ("ES@S") as of June 30, 2005
from 41.0% to 70.5%. ES@S provides ICT Infrastructure Services and
Managed Services. The company realized net revenue of EUR 3.4
million in 2004. Triple P acquired its initial interest of 41.0% in
2002. Mr. Khaleghi Yazdi, CEO of Triple P, commented "This is a
strategic investment in the Belgian market for Triple P. The
management of ES@S has proven to be able to successfully provide
ICT services to large and medium sized companies." Managing
Director Mr. Robert Decant of ES@S added, "Our successes in recent
years were built on the confidence of the market, our employees and
our investor Triple P. The increased interest of Triple P in our
company will result in even closer cooperation between the two
companies and will enable ES@S to enhance our ICT service portfolio
for existing and new customers." Since ES@S's results will be
consolidated in the books of Triple P as of June 30, 2005, Triple P
announced that it intends to report its second quarter results on
September 1, 2005. About Triple P Triple P (Nasdaq:TPPP) designs,
supplies, builds and manages ICT-solutions that in an efficient way
contribute to your company's results. The three p's - people
performance and partnership - are the basis for long-lasting and
successful relationships with our customers. This release contains
a number of forward-looking statements based on current
expectations, including potential financing plans and the impact of
restructuring plans. Any statements contained herein that are not
statements of historical fact may be deemed to be forward-looking
statements. Without limiting the foregoing, the words "believes,"
"anticipates," "plans," "expects," "intends," and similar
expressions are intended to identify forward-looking statements.
Actual results may differ materially due to a number of factors
which include, but are not limited to: overall ICT- spending and
demand for ICT services in the Netherlands; the timing of
significant orders; the ability to hire, train and retain qualified
personnel; the total amount of severance and other costs needed to
complete the Company's restructuring plans and fierce competition.
For a more thorough discussion of these risks and uncertainties,
see the Company's filings with the Securities and Exchange
Commission, particularly its most recent annual report on Form
20-F.
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