Airport Business

Companies Circle Insolvent Imtech

Imtech arena dpa
No more sports sponsoring for Imtech, like in Hamburg back in the day.
  • Why it matters

    Why it matters

    Austrian companies Porr and Strabag are among those circling the insolvent building services company Imtech.

  • Facts

    Facts

    • French company Vinci acquired the information and communications division Imtech ICT in August 2014, for a reported purchase price of €255 million.
    • Despite the revenue and a €600 million capital increase two months later, Imtech ran out of money this month.
    • Imtech’s Hamburg office employs about 4,000 people.
  • Audio

    Audio

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Two weeks after the German subsidiary of Imtech, the Dutch building services connected with the disastrous unfinished Berlin airport, went bust, it is more popular than ever.

The insolvency administrator, Peter-Alexander Borchardt said 40 investors contacted him within a few days of the application, expressing an interest in buying the company.

They appeared undeterred by investigations into corruption, bribery, embezzlement and violations of competition law, most of which relate to deals struck over the long delayed and still not opened Berlin-Brandenberg Airport.

Handelsblatt has learned that a few of Europe’s largest construction companies are among the interested parties. Two independent sources confirm that Strabag, a major Austrian company, has already been sounded out over whether it is interested in taking over parts or all of Imtech’s business.

Porr, another Austrian industry giant, and French competitor Vinci have also shown an interest. The French company acquired the information and communications division Imtech ICT in August 2014, for a reported purchase price of €255 million ($282 million).

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