FCC's Alpine Bau faces break up due to insolvency

By IVC Staff Reporter

Jun 24, 2013 11:20 AM EDT

Alpine Bau, the insolvent arm of Spain's construction group FCC, is on the brink of being broken up with the failure of last-ditch talks to save the company.

With the imminent break up of Alpine Bau, a consortium of rival builders that includes Austria's Strabag, Porr, Swietelsky, Habau and Felbermayr,  had began looking into taking over parts of  the company either at provincial division levels or individual projects.

The proposed takeover will also put around 5,000 jobs at risk. According to the head of Alpine Bau's works council, Hermann Haneder,  the question will be whether or not the workers will be kept after the projects are over.

A member of the consortium, Porr said it was still in negotiations to buy parts of the company,  thus they cannot say anything yet about the number of workers and projects.

Alpine Bau had announced its insolvency last week.

© 2024 VCPOST, All rights reserved. Do not reproduce without permission.

Join the Conversation

Real Time Analytics