Porr acquires Alpine assets
By Helen Wright02 August 2013
Austrian contractor Porr has acquired two businesses from Alpine Bau, which entered voluntary insolvency in June, and plans to integrate them into its Geotechnical division.
Porr has taken over Alpine’s Grund- Pfahl- und Sonderbau (GPS) and Stump Spezialtiefbau businesses. GPS is active mainly in Austria and specialises in foundations and anchoring works, while Stump is also focused on foundations contracting and operates in the German, Polish and Czech markets. The price of the acquisitions was not disclosed.
Porr said it would retain around 500 employees as a result of the deal. CEO Karl-Heinz Strauss said the acquisitions were a good fit for Porr and would enable it to enter new customer markets.
Alpine blamed delays in planned divestments and the steady deterioration in the trading situation since the first quarter of 2012 for its bankruptcy.