Imtech water, energy and waste division sinks

Imtech UK’s loss-making water, energy and waste division has been placed into administration.

The firm confirmed the move today, which places 69 jobs under immediate threat, although some main contractors like Galliford Try and Laing O’Rourke are looking at rescuing staff on key projects.

Administrators from PwC will now look at trading out remaining contracts with the firm.

The division, formerly known as Imtech Process, was excluded from the refinancing deal for the UK and Irish business being funded by private equity group Endless.

Under the present rescue plan managing director Paul Kavanagh will now run the £500m turnover building services contractor as an independent business operating in the UK and Ireland.