Imtech reaches final agreement with its main financiers

After the identification of the irregularities in Germany and Poland, it became clear that Imtech was not going to meet its year-end 2012 financial covenants. On 19 March 2013, Imtech reached agreement with its main financiers on the provisional continuation of the outstanding facilities, and on 15 June 2013, the company reached final agreement with its main financiers regarding a waiver and amendment agreement for the outstanding facilities.
June 17, 2013 Read time: 1 min
After the identification of the irregularities in Germany and Poland, it became clear that 769 Imtech was not going to meet its year-end 2012 financial covenants.

On 19 March 2013, Imtech reached agreement with its main financiers on the provisional continuation of the outstanding facilities, and on 15 June 2013, the company reached final agreement with its main financiers regarding a waiver and amendment agreement for the outstanding facilities.

The main financiers will continue to make their current facilities available, under conditions customary in these circumstances. Reaching this agreement is an important step and as a result, the 2012 financial statements can now be finalised and announced shortly. Further details will be announced with the annual accounts 2012.
Urban Traffic Control

For more information on companies in this article

Related Content

  • Fasten your seatbelts: it’s going to be a bumpy ride
    June 26, 2018
    A spat has broken out between two major US transportation organisations over how best to pay for road use: the ATA says tolls are ‘fake funding’ while IBTTA has scorned ‘scare tactics and falsehoods’… Much has been made of the state of US roads: everyone agrees that funding is needed – but who should pay? And how? Chris Spear, president and CEO of American Trucking Associationsm(ATA), believes finance is facing a cliff edge: the Highway Trust Fund (HTF), historically the primary source of federal revenue
    Read More
  • Improving urban traffic control in Atlanta
    January 27, 2012
    Hugh Colton, Georgia DOT details move to improve urban traffic control in the Atlanta area. With a significant proportion of traffic using freeways and toll-ways, along with a significant investment in roadway infrastructure, urban arterials are often the poor relation when it comes to ITS investment. Hitherto the primary means of Urban Traffic Control (UTC) has been the ubiquitous traffic signal. Many traffic signals still operate in a standalone mode and traffic detection is often broken, leaving the sign
    Read More
  • Dott and Tier announce merger - but will keep own brands
    January 11, 2024
    Companies operate primarily in Europe and have combined revenues of €250m
    Read More
  • Government traffic statistics ‘highlight a growing issue in the UK’
    August 12, 2016
    The UK Department for Transport has issued its provisional estimates of road traffic in Great Britain for the year ending June 2016 by vehicle type and road class. These show that motor vehicle traffic was at a record high with 319.3 billion vehicle miles travelled, at 1.5 per cent higher than the previous year and 1.6 per cent higher than September 2007). Rolling annual motor vehicle traffic has now increased each quarter in succession for three years. Compared to the previous year, all road class
    Read More

Highlighted Content