IHC Vremac Cylinders B.V. celebrates 50th anniversary

Thursday, October 9th, 2008

IHC Vremac Cylinders began life in 1958 as Vremac, a company of four people; it has now been in Apeldoorn, the Netherlands, for the past 50 years. The company specialises in the manufacture of hydraulic cylinders, and it now has a workforce of about 130. It has been part of the IHC Merwede Group since 2007 and turnover in 2008 is expected to be EURO 35 million.

History
The founder of the company, Mr Venderink, was a manager at Werklust Excavators, and he decided to branch out on his own in Apeldoorn repairing hydraulic cylinders. He came up with the Vremac name as an acronym of Venderink reparatie en machinefabriek (Venderink Repairs and Machine Factory). In 1971, his son-in-law Mr Van 't Hof joined the company. In 1986, Mr Van 't Hof took over the company, eventually selling it to Mr Jansen in 2001.

In 1984, the company moved from Oosterdwarslaan 2 to Laan van Malkenschoten 95 in Apeldoorn, where the company has remained to this day. Vremac repaired hydraulic cylinders for clients in many branches of industry but it soon moved on to manufacturing new cylinders. The Boltini Circus was one client. To keep the factory working at full capacity, the company also provided other machining services. The late 1960s was a period of demand for a wider range of products. Vremac responded to this demand, and, in the 1970s, 1980s and 1990s, it manufactured other products in addition to cylinders. The industrial presses were a striking example but the company also manufactured folding machines and punching machines.

At that time, Vremac also supplied a large range of cylinder-related products such as hydraulic units and control units. The production of hydraulic and folding machines was run down as the guidelines became stricter and competition fiercer. In the new millennium, the focus shifted to cylinders and, at present, the company's sole product is hydraulic cylinders. As a result of the dramatic expansion of the company, in terms of both turnover and the size of the products, it was decided in 2008 to open up a new site at St. Eustatius 18-20 in Apeldoorn.

Turnover in the 1950s was minimal, although precise figures are not available. Over the years, it grew steadily to EURO 12 million in 2004. Since 2005, there has been a dramatic increase to an expected EURO 35 million in 2008.

Present and future
IHC Vremac has been a part of the IHC Merwede Group since 2007. The IHC Merwede Group was an important client for Vremac and strategic interests led it to take over the company in 2007. IHC Merwede is the global market leader in the construction of specialist dredging equipment and complex custom-built offshore vessels. It has a workforce of approximately 2,800 people.

The Vremac hydraulic cylinders are essential components within the hydraulic systems sold by IHC Merwede. The close collaboration between Vremac and IHC Merwede has resulted in more effective product development and the enhancement of added value for the dredging and offshore markets. Joining forces will also reinforce the position on the ‘after-sales’ market for hydraulic systems, one of the priorities in the IHC Merwede strategy.

As a result of the takeover, the company's new name is IHC Vremac Cylinders B.V. The company continues to grow and, thanks to its unique products and its production capacity, the prospects for the next 50 years are exceptionally favourable.
Note for the editing desk/not for publication

For more information, please contact:
IHC Merwede Group
Mrs. R. van Krimpen-Baudesson
T +31 (0)184 41 15 55
pr@ihcmerwede.com
Pictures will be available under the topic "news" on our website:
www.ihcmerwede.com

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