EUR 140M FOR LIMBURG (B)
[BIZ: Hasselt, June 4] The report revealed that on December 31, 2006, LRM had assets of EUR 354m, of which EUR 51m were invested in real estate and projects and another part (EUR 60m) in stake-holdings and consolidated loans in companies. Monies owing as of December 2006 were EUR 127m. This means in concrete terms that LRM has EUR 140m available to benefit the economy of Limburg. The consolidated profit, as mentioned above, was EUR 32m, of which EUR 17m went in dividends. At the end of 2006 LRM was involved in 46 Limburg companies, either as a stakeholder or as a lender. The total investment sum for 2006 was EUR 14m. LRM also withdrew from three companies: Ambiorix, Bio-Racer and GIA. Particularly important in 2006 were the purchase of the Balim site in Lommel and the sale of the mine site at Waterschei to the City of Genk. There is also the development towards turning Limburg into a logistical port, which will eventually generate 30,000 jobs. [See elsewhere in this newsletter for the Limburg logistical port. ED.] LRM doubled its investment in 2006 in respect of the average investment of the previous year, a rise from EUR 20m to EUR 49m. The future focus will be on growth, companies, products and sectors and the areas of knowledge, innovation and alternative forms of energy. A new board has been installed under the chairmanship of Erik Monard and a new general manager Gerard Buteneers was appointed in September. The team has been expanded to 12. LRM’s transparency target has also led to the employment of a communications specialist.
The Limburg (BE) investment company LRM recorded a consolidated net profit of EUR 32m in 2006. This means that it now has EUR 140m available for investment. This is money that will be invested in the coming years to the Limburg economy. These figures were made public during the presentation of the 2006 annual report at Herkenrode Abbey in Hasselt.
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