History
The company was founded by Adam van der Wal as a joiner's shop in 1869 in Groot-Ammers - a rural village in the Alblasserwaard region to the east of Rotterdam. [3] At the end of the 19th century, Adam's son, Jan van der Wal, took over the business and worked as a construction contractor not only in the Alblasserwaard region but at further afield locations, including Vlaardingen and The Hague, where he soon opted to relocate to. Jan's son, Joop van der Wal, studied civil engineering in Delft prior to joining his father’s company in 1926. [4]
During 1927, the business was renamed Bataafsche Aanneming Maatschappij van Bouw- en Betonwerken, in English, Batavian Construction Company for Construction and Concrete Projects plc. ('BAM'); it transitioned from being a family-owned firm into a ‘naamloze vennootschap’ (public limited company). [4] In the interwar period, BAM undertook several large-scale projects, including the office building of the Batavian Petroleum Company in The Hague, the broadcaster AVRO's Amsterdam headquarters, a KEMA laboratory in Arnhem, the Blijdorp Zoo in Rotterdam, and the conversion of Soestdijk Palace on behalf of Princess Juliana and Prince Bernhard. To support these works, area offices were establish in Arnhem (1933) and Amsterdam (1934). [4]
During the Second World War, BAM's activities suffered, being heavily impacted by the German occupation of the Netherlands. [4] During 1959, the company was listed on the Amsterdam Stock Exchange in 1959. [3] Starting in 1973, the company traded under the name BAM Holding N.V. During 1973, BAM also adopted its iconic cube-shaped logo. [4]
When the company reached its 125th anniversary on 12 May 1994, it received the right to add ‘Royal’ to its name. It continued to expand through acquisition, such as its purchase of rival companies Interbuild (in 1998), [5] [6] and Hollandsche Beton Groep ('HBG') (in 2002). [7] [8]
During November 2006, Royal BAM issued a profit warning and launched an investigation into the incurring of £78m of losses at its German construction subsidiary. [9] In July 2008, HBG was rebranded as Bam Construct UK. [10] [11] During mid-2010, the company's share price was impacted by a rights issue. [12] [13]
Several times during the 2010s, Royal BAM produced underwhelming fiscal results; this circumstance was attributed as the cause of job losses and a restructuring effort being launched in 2014. [14] [15] While performance has reportedly recorded in the UK by 2016, [16] [17] both Germany and the Middle East were stated to be the source of losses incurred by the business towards the end of the decade. [18]
In July 2020, Royal BAM announced that it was winding down its 600-strong BAM International business, attributing this decision to the negative economic consequences of the COVID-19 pandemic. [19] [20] Furthermore, up to 150 jobs would also be cut at BAM Construct UK. [21] During September 2021, Royal BAM announced the sale of its German interests, which cumulatively produced an annual turnover of €500 million, to the German real estate and construction company Zech Group and the Gustav Zech Foundation. [22] [23] Around this time, the company was in the process of reorganising its group structure as part of a plan to its British-centric activities a top three contractor; at the time, management had opted to concentrate on its core businesses in the UK, Ireland and the Netherlands. [24] [25]
In October 2022, Dutch authorities (the Fiscal Information and Investigation Service and the Public Prosecution Service) visited BAM International bv offices in Gouda, in an investigation relating to potential irregularities at some completed projects; Royal BAM was "fully cooperating" with the investigation. [26] In July 2024, Royal BAM reported its UK construction business had suffered a £19.5m loss due to problems at Manchester's Co-op Live Arena, and would be cutting further jobs. [27]
