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

  • TRL answer key questions on urban traffic control
    March 21, 2014
    PC-based urban traffic control (UTC) continues to grow. Gavin Jackman, Head of Traffic and Software at TRL, looks forward. 1. PC-based urban traffic control is now very well established throughout the world. What have been the most significant developments or new features that have become available over the last two years? That’s a really interesting question because, from a software perspective, a few things are noticeable. Firstly, there are more players on the market – TRL’s Transyt Online, Imtech’s Imf
    Read More
  • Growth of ANPR applications for enforcement, tolling and more
    February 1, 2012
    Automatic number plate recognition continues to find new applications beyond the traditional. In coming years, we can expect the application set to grow significantly Moore's Law has seen to it that computer processing power has improved out of all comparison in the 30-plus years since the first working Automatic Number Plate Recognition (ANPR) system was created by the UK's Police Scientific Development Branch. The attendant increases in systems' capabilities have resulted in ANPR being deployed globally
    Read More
  • Interoperability: towards the new frontier
    October 22, 2018
    After six years of intensive research, testing and negotiation, the US tolling industry is well on its way to groundbreaking results in the effort to establish regional - and eventually national - toll interoperability, says IBTTA’s Bill Cramer. Interoperability has been a high priority on the US tolling industry’s agenda for more than a decade. But several factors made it a uniquely complex issue to resolve - including the number of agencies involved, the significant investments those agencies had already
    Read More
  • PTV launches first Shaping Transportation event
    April 29, 2013
    On 18 and 19 June 2013, world transportation experts will meet at Shaping Transportation in London, when German software and traffic consultants PTV Group extend the format of their traditional PTV Vision user group meeting. During the two days, speakers such as Dr Hans Jeekel, Rijkswaterstaat, Ministry of Infrastructure and the Environment, the Netherlands, Sanjiv N Sahai, CEO of Delhi Integrated Multi-Modal Transit Systems (DIMTS) and Allan Gooch who was responsible for transport planning during the 2012
    Read More

Highlighted Content