Imtech insolvency proceedings: Mühlenfeld deploys task force07.08.2015
Following yesterday's announcement that Imtech Deutschland GmbH & Co. KG has filed for bankruptcy, Berlin Airports CEO Karsten Mühlenfeld deployed a task force this morning which will assess all of the economic, technical, legal and construction workflow implications of the insolvency proceedings.
Mühlenfeld: "Imtech is one of the key construction companies involved in the BER site. The task force comprises our construction experts, lawyers and contract specialists, and will now work at full stretch to draw up a plan as to how our company will handle bankruptcy by Imtech. From our perspective, it is obvious that insolvency will have an impact on our milestone plans according to which construction work is to be concluded in March 2016. Some Imtech personnel failed to show up at the BER site today. The task force is now obliged to assess whether and to what extent there will be any impact on the opening scheduled for the second half of 2017. Our shareholders are informed and we will continue to keep them up to date."
Background: The Dutch-based Royal Imtech NV announced yesterday that its German subsidiary had filed for bankruptcy. Imtech Deutschland GmbH & Co. KG is a contractor for electrical work (low and medium voltage) and, as a member of the IMCA consortium, also a contractor for heating, ventilation and air conditioning.