Porr Considers Capital Increase

People ♦ Published: December 3, 2011; 15:48 ♦ (Vindobona)

In order to realize further growth, the owners of the second-largest Austrian construction company plan to raise the equity base.

Porr Considers Capital Increase / Picture: © Porr AG

This week, Porr reported losses ranging between € 70m and € 80m. The main reason is a delay in payments in Hungary and Romania. In both cases, the public authorities are responsible for the projects. According to CEO Karl-Heinz Strauss, an arbitration court will be called. Moreover, a withdrawal from Hungary is considered – at least if Porr does not succeed. Many of the 400…