Nov 26, 2008

Befesa Becomes Majority Shareholder of NRS Consulting Engineers

Spain-based water company will acquire 51% of NRS

Befesa, a Spain-based industrial waste and water management company, announced on October 13 the agreement to acquire, through its water treatment subsidiary, 51% of NRS Consulting Engineers, a U.S. company specializing in the design and construction of water plants.

This acquisition will enhance the synergies of both companies, allowing them to work together on large desalination plant projects in the U.S., with concentration in leading water management states including Texas, California and Florida. Moreover, both companies joined together with a goal to boost the use of sustainable technologies to develop solutions that improve integral efficiency in the entire water cycle.

As Befesa's Chairman, Javier Molina declared, “this acquisition represents Befesa's entry into the United States through a company highly specialized in desalination, providing us with the opportunity to grow in this promising market.” Befesa has recently seen significant growth, closing 2007 with capital in excess of $600 million.