Onstream Holding B.V. acquires ASC International B.V.

Onstream Holding B.V. acquires ASC International B.V.

Den Helder, 17^th of July

On the 12^th of July 2007 The Onstream Group acquired ASC International BV in Leidschendam. ASC International is a project management organisation specialised in providing manpower services to the upstream Oil & Gas, Power and Petrochemical industries worldwide. Onstream is a global recruitment and service organisation in the Oil & Gas, Shipping, Petrochemical and Power industries. The acquisition, which will create a business with an annual turnover of €60 million and workforce of over 320 engineers and consultants will enable the new group to become a significant operator in the global manpower and recruitment services industry.

Headed by Rémi Maari Group CEO and assisted by Ruud Reijers. The new group plans to utilise the excellent business platform which has now been created as a basis further major expansion in the international manpower and recruitment services industry. The strategic locations of the group’s offices in The Netherlands, Gabon, Nigeria, Kazakhstan, Russia, Switzerland, France, the UK and the USA as well as representative offices in a.o. the UAE, Australia, Iran, Malaysia and Qatar will all facilitate this development.

The longstanding relationships that both companies have maintained over many years with major oil & gas owner/ operators and contractors will continue to be of fundamental importance to the new business. Clients will be able to benefit significantly from the global coverage now provided by the enlarged group, as well as from its greater resources of skilled personnel, wider range of operational competencies and its greater financial strength.

The new group will continue to have as its primary goal the provision of the highest possible quality of service to its clients coupled with a flexible and innovative approach to their future needs.