Allbecon AG, a specialist staffing service provider, is anticipating substantial potential for growth as a result of the planned merger with the Dutch group Olympia Uitzendgroep B.V. With more than 5,200 employees and an annual turnover of EURO 139.5m in 2005 (1st six months of 2006: EURO 85.3m), Olympia Uitzendgroep B.V. in The Hague is the sixth largest temporary employment agency in the Netherlands. The Olympia Group operates 29 branch agencies under self-ownership and 61 agencies based on a franchise system for which it has developed highly specialized know-how in the temporary staff franchising segment.
New Umbrella Company Allbecon Olympia AG
The merger is to be achieved by Allbecon AG being merged into Overdrive Projekt AG, a Dusseldorf undertaking that was recently established as the future new holding company for the Allbecon Group and the Olympia Group. At a later date, the name of Overdrive Projekt AG is to be changed to Allbecon Olympia AG. Prior to the merger, Overdrive Projekt AG is to already acquire all shares in Olympia Uitzendgroep B.V. The future Allbecon Olympia AG, as the umbrella holding company of the European group of companies, will have its registered place of business in Dusseldorf.
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