October 10, 2017 / 4:59 AM / 13 days ago

Belgium's IBA partners Vinci Construction to offer building support

Oct 10 (Reuters) - Belgium’s Ion Beam Applications (IBA) said on Tuesday it will collaborate with France’s Vinci Construction to offer design and construction support to the proton therapy specialist’s clients, a move designed to reduce project delays.

Delays in the construction of buildings to house IBA’s proton therapy machines, which use a beam of particles accelerated to two-thirds the speed of light to treat cancer, forced the company to cut margin guidance for 2017-2019 earlier this year.

In August, Chief Financial Officer Soumya Chandramouli told Reuters IBA was in talks to provide a dedicated construction service to customers to reduce the risk of delays.

Under the terms of the memorandum of understanding signed with Vinci Construction, which is effective immediately, the French company will lead the design of buildings and support the construction process, IBA said.

“In due course, IBA and Vinci Construction plan to develop an optimized joint offer to customers,” IBA said in a statement.

At Monday’s close, shares in IBA were down 31.6 percent year-to-date.

Reporting by Alan Charlish, editing by David Evans

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