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

  • ASECAP examines tolling during downturns
    September 22, 2014
    ASECAP debated the impact of the financial crises on Europe’s tolling companies and considered the future in diverse economies. Colin Sowman picks some of the highlights. This year ASECAP (Association Europeenne des Concessionnaires d’Autoroutes et d’Ouvrages a’ Peage, with members in 21 countries managing 46,000km of roadway) held its annual Study & Information Days in Athens, Greece – one of the country hardest hit by recent economic problems. While the theme of the conference, Ensuring Sustainability in
    Read More
  • EU funding kick-starts EETS studies
    February 4, 2014
    The regional European Electronic Toll Services (EETS) initiative is about to be kick-started by over US$3 million of co-financing from the European Union TEN-T Program. A a series of studies aimed at deploying EETS on a cross-border regional scale, selected for funding under the 2012 TEN-T multi-annual programme, specifically cover the electronically tolled primary road network of seven member states: Austria, Denmark, France, Germany, Italy, Poland and Spain, and Switzerland, which receives no EU suppor
    Read More
  • Call for entries for ITS America 2012 State Chapter awards
    March 23, 2012
    ITS America has announced a call for entries for the “2012 Outstanding State Chapter Awards,” presented to highlight and recognise the most outstanding 2011 accomplishments of ITS State Chapters throughout the country. This year’s awards programme incorporates three divisions of chapters based on size. Two awards will be given in each division for Outstanding State Chapter and Membership Growth. California, Florida, Georgia, Gulf Region, Heartland, Michigan, Minnesota, New York, Texas make up Division 1. Di
    Read More
  • Smoothing out city freight movements
    May 28, 2014
    David Crawford welcomes a national first. Urban freight movements, while commercially and socially vital, are a growing logistical headache for planners and people alike. Figures from France’s Lyon Laboratory of Transport Economics indicate that goods transport in major urban areas accounts for: 20% of traffic; 35% of CO2 emissions made by all urban trips; and 50% of the diesel used; while final km delivery runs account for 20% of the total cost of the transport chain.
    Read More

Highlighted Content