Strabag: No Early Comeback in Libya

IndustrialsConstruction ♦ Published: June 10, 2011; 12:54 ♦ (Vindobona)

The Austrian construction company had to stop projects worth € 350m, which resulted in a decrease in business backlog by 3% to € 15.2bn.

Strabag: No Early Comeback in Libya / Picture: © Wikipedia / U.S. Navy photo by Mass Communication Specialist 2nd Class Jesse B. Awalt

Strabag is not planning to reopen its business in Lybia soon. “We expect not to be able to serve the Libyan market for a long time”, stated deputy CEO Fritz Oberlerchner at the shareholders’ meeting.

However, he explained that the construction company would be able to compensate for the losses in North Africa with a strong business development in other regions – e.g. in…