EMCC European Monitoring Centre on Change

Royal Imtech N.V.

Royal Imtech N.V.

Geographic Location

Country: European Union
Location of affected unit(s): UK, Germany, Netherlands


Sector: Construction
42 - Civil engineering
Number Employed: 22000

Employment Effects

Announcement Date: 26-08-2015
Planned Job Reductions min: 222
Planned Job Reductions max: 22000
Type of Restructuring: Bankruptcy
Employment Effect Start: 13-08-2015
Direct Dismissals: 222

Additional Information

The whole company - an engineering firm - filed for insolvency. Restructuring and reorganisation attempts failed, and the parent company filed for insolvency in September 2015; Imtech Germany filed in August, and Imtech UK is continuing to reduce in size. The Marine and Nordic divisions are set to be sold to private investors. This follows a major accounting scandal from 2013 in the company's German and Polish divisions, which has resulted in a turbulent two years financially. Jobs that remain will fall under the remit of new owners on a division-by-division basis. Two Belgian divisions - Imtech Belgium Holding N.V. and Imtech België B.V. - have been bought out by Dutch based Cordeel Group, which Imtech Nordic has been purchased by Parcom Capital and Pon Holdings.