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Abengoa-Befesa acquires 52 percent of Residuos Industriales de la Madera de Córdoba (Rimacord)

Seville, 14 de Agosto de 2003.- Befesa Medio Ambiente, an Environmental subsidiary of Abengoa, has acquired, through Albega, 52 percent of Rimacord, a company in which the public company Gestión Medioambiental de Andalucía, Egmasa, has a shareholding.

Rimacord is a company that has been established to develop the management of industrial waste from the timber sector and sister products, and its shareholders include, apart from Egmasa, Asociación de Empresarios de la Madera de Córdoba, the financial institutions Cincores and Cincosur, the Town Councils of Lucena, Villa del Río and several businessmen. It is a manager that has been authorised by the Environmental Department of Andalusia.

vBefesa's participation in the capital will enable the industrialists in the area to avail of modern facilities to manage and exploit their waste and reduce their treatment costs thanks to the management facilities that Befesa is putting at their disposal in Andalusia by means of the Nerva and Palos de la Frontera treatment centres.

The company will set up two industrial waste classification and transfer facilities in Lucena and Villa del Río, in which it will invest approximately 1.5 million euro. When they have come into operation, Befesa and Egmasa will have consolidated their leadership in the industrial waste management sector in Andalusia.

Abengoa is an industrial and technology company listed on the Stock Exchange, with a capitalisation of more than 500 million euros (31/12/2002). It provides solutions for Sustainable Development, the Information and Knowledge Society and the Creation of Infrastructures. It currently operates in four large fields of activity: Bio-energy, where it is the world's second bio-ethanol producer; Environmental Services, where it is the leader in Europe in some of the industrial waste market segments; Information Technologies, where it is one of the key players at international level, with operations in Europe, Latin America and Asia; and Industrial Engineering and Construction, where it is leader in Spain and Latin America. Sales in 2002 exceeded 1,500 million euros and net profit was 43.5 million euros.

Befesa, Abengoa's leading company in the Environmental Services sector, is listed on the Stock Exchange and closed 2002 with a capitalisation of more than 393 million euros. Its sales volume was 403 million euros, a 10.4% increase on the previous year, and profits rose to 16.2 million euros (a 9.4% increase).