June 20, 2013 / 7:33 AM / 5 years ago

FCC's Alpine Germany files for insolvency

VIENNA, June 20 (Reuters) - The German unit of FCC’s Alpine Bau has filed for insolvency, following a similar move by its Austrian parent construction company on Wednesday.

Alpine Bau Deutschland has operations in the Netherlands, Poland, Russia and the United Arab Emirates as well as Germany, and employs 1,500 people. It had sales of around 600 million euros ($804 million) in 2012.

“We have a clear goal of cleaning up Alpine. The insolvency proceedings... are an appropriate way to create the necessary basis for a future of the company,” Alpine Bau Deutschland Chief Executive Frank Jainz said in a statement late on Wednesday.

The company said it was looking for a new investor. ($1 = 0.7461 euros) (Reporting by Georgina Prodhan; editing by Patrick Graham)

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