Inteco

IVT Germany closes end of November

The INTECO Group member IVT due to the macroeconomic circumstances will cease its business activities end of November.

This decision is a consequence of only a moderate number of projects on the German market and therefore a too little workload of our local office. This is also visible when looking at a demographical breakdown of our latest order intakes: During the last three quarters the INTECO Group was able to book a great number of new orders from Russia, Asia and Central America. The German market on the other hand was rather calm. The backlog of orders of the INTECO Group currently reached a satisfying high of 66 Mio EUR, which means 12 months of work at full capacity for the whole group.

The closure only concerns the office in Tönisvorst, all further locations in Offenburg and Berlin will remain open. Of course this has no effect on all active and future projects in Germany. 

 

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