Renewable energy group aims for IPO

Renewable energy concern Econcern is aiming to be listed on the stock exchange in three to five years time, reports Tuesday’s Financieele Dagblad.

A listing was part of the agreement made with Rabobank and Delta Lloyd when they took a stake in the company in May, says Econcern chief Ad van Wijk in an interview with the paper.
Together with existing shareholder SHV, the three firms (which have a combined 50% in Econcern) made a capital injection of €300m earlier this year. The rest of the shares are owned by staff.
The company is targeting net profit of €1bn on sales of €8bn by 2012. This year, the group booked earnings of €100m on turnover of €800m.
One of the biggest problems facing the company is finding qualified personnel, says Van Wijk. Ecocern, which has a staff of 1,200 people in 20 countries, needs 40 top 50 new employees a month.

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