Austria’s Asamer to focus on core activities

Austrian construction materials maker Asamer, whose main products are gravel and concrete, is said to have confirmed media reports suggesting that it will restructure. Talks to this effect are expected to be completed by the end of 2013. One of the options considered is splitting off the south-eastern European business, especially that of Croatia, in a separate company.
July 16, 2013 Read time: 1 min

Austrian construction materials maker 4700 Asamer, whose main products are gravel and concrete, is said to have confirmed media reports suggesting that it will restructure.

Talks to this effect are expected to be completed by the end of 2013. One of the options considered is splitting off the south-eastern European business, especially that of Croatia, in a separate company.

The company said that 2012 was an exceptionally bad year. It pointed out, however, that the losses of €70 million were not operational ones but related to cement factories
in Libya.

In the future Asamer will concentrate on its core activities, mineral building materials. The company hopes to be profitable again in 2013.

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Asamer of Austria to split up activities

The struggling Austrian construction materials company Asamer has confirmed that its liabilities amount to around €400 million.

The company's administrator plans to divide Asamer into two entities. The current family owners of Asamer will retain the core activities in Austria, along with the firm's plants in Slovakia and Bosnia Herzegovina. This amounts to a total turnover of €200 million compared to Asamer's current overall turnover of €452 million.

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