More Imtech jobs saved as administrators continue garage sale

Administrators for bankrupt technical services company Imtech said on Wednesday they had found buyers for two more units, securing a further 248 jobs.

Imtech Industrial International and Ventilex have been bought by asset manager Techim, which looks after the financial interests of several wealthy families.

In addition, parts of Imtech Building Services are also being sold and sector peer Unica has agreed to take over contracts worth €150m. Imtech’s Irish arm and Imtech UK may also be sold to British investment house Endless, which is now in exclusive talks with the administrators.

Some five companies are also involved in talks on Imtech’s Spanish operations, which have a workforce of 1,900. Those negotiations may be finalised this weekend.

Last week, the administrators said they had sold off a number of units, securing 9,300 of the company’s 22,000 jobs.

Imtech’s massive financial problems became apparent three weeks ago, and the company was declared bankrupt on August 14.

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