Fortaco Sells Hungarian Heavy Project Business to New Owners

Fortaco sells its Hungarian heavy project business, Fortaco Zrt., to new owners led by Managing Director Uwe Sträter for EUR 23 million. The deal, expected to close by June 2024, will impact around 250 employees and aligns with Fortaco's strategy to optimize operations and focus on core business areas.

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Fortaco Sells Hungarian Heavy Project Business to New Owners

Fortaco Sells Hungarian Heavy Project Business to New Owners

Fortaco, a leading company in the industry, has announced the sale of its Hungarian heavy project business, Fortaco Zrt., to new owners led by Managing Director Uwe Sträter. This strategic move is part of Fortaco's ongoing evaluation and restructuring efforts.

Why this matters: The sale of Fortaco Zrt. marks a significant shift in the company's strategy, reflecting its efforts to adapt to changing market dynamics and optimize operations. This move could have broader implications for the industry, potentially influencing the direction of other companies in the sector.

The transaction, valued at EUR 23 million, will impact approximately 250 employees at Fortaco Zrt. The deal is expected to close by the end of June 2024, pending necessary approvals.

Fortaco's decision to divest its Hungarian heavy project business aligns with the company's strategic objectives of optimizing operations and focusing resources on core business areas. By streamlining its portfolio, Fortaco aims to enhance efficiency, drive growth, and strengthen its market position in key segments.

The new ownership, led by Uwe Sträter, brings extensive experience and expertise in the heavy project industry. Sträter's leadership is expected to provide strategic direction and drive the future growth of the business.

The sale of Fortaco Zrt. marks a significant milestone for Fortaco as it continues to refine its business strategy and adapt to evolving market dynamics. By divesting non-core assets, the company can allocate resources more effectively and focus on areas with the greatest potential for long-term success.

The transaction is subject to customary closing conditions and regulatory approvals. Both parties are working diligently to ensure a smooth transition for employees, customers, and stakeholders associated withFortaco Zrt.

As Fortaco moves forward with its strategic realignment, the company remains committed to delivering high-quality products and services to its customers across its core business segments. The sale of the Hungarian heavy project business allows Fortaco to sharpen its focus and invest in areas that align with its long-term vision for growth and success.