Monday, August 10, 2015

Imtech seeks solutions after failed talks with financiers – nrc.nl

Building technology supplier 'Imtech' files for insolvency

The company logo at the Imtech headquarters of the German Hamburg Photo: EPA / Daniel Bockwoldt

Economy

Talks between Imtech and its financiers are again faltered. That makes the ailing Gouda installation this morning announced in a brief press release.

The talks are still ongoing according to a spokesman. The aim is to “keep as much of the group together.

Imtech realized fail multiple calls on new funding. The important German branch of the company was in great financial difficulties and had to file for bankruptcy last week.

All options are on the table for the parent company, including deferred payment. The value of the Imtech share evaporated in recent days.

The Dutch multinational with 22,000 employees needs at least 75 million euro in the short term. On that it is negotiating with its lenders, forty in total. If Imtech receives no money, is threatening bankruptcy.

Two weeks ago Imtech announced that, on some small details, the emergency loan worth 75 million euros would have been agreed. These details proved more difficult than expected, making last week the news came out that the emergency package was table

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