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Friday, 15 March 2013

Imtech blew it in Poland and is kicked out of the door at “Adventure World Warszawa”, but RECEIVED a payment from Adventure World: a rectification!

Until 13 March 2013, Imtech was involved in the delivery of the adventure park “Adventure World Warsaw” and two green energy plants in Poland.

On 8 February 2013, it became clear that this project had suffered a massive loss of at least €100 million, due to ‘irregularities’ in the way that the project had been executed.
These irregularities could not be further clarified at the time.

A few weeks later, on 27 February 2013, the amount of this Polish loss has been increased to €150 million by the executive board of Imtech and an additional loss of €150 million has been booked on the German operation of Imtech, Imtech Germany.

On March 15, I wrote a third article, based on a press release by Adventure World Warsaw (AWW), in which I stated that the contract between Adventure World and Imtech Germany / Poland had ended with immediate effect. I also stated in this article that Imtech would pay a damage restitution amount to Adventure World for the premature abolishment of this contract.

Today, I received two comments and a few tweets by Irene Kersseboom, Corporate Communications Officer of Royal Imtech NV (IM:NA). She stated that my assumption about Imtech paying Adventure World had been wrong. It would be Adventure World, who would pay Imtech for the premature abolishment of the contract. Irene Kersseboom did not have any comments on the further contents of this article.

I’m not a professional journalist, but I want to write articles that are truthful and correct. I only want to write facts and assumptions that are not basically wrong!

Therefore I want to rectify my unjust assumption by means of this article and the following sentence:

Adventure World Poland has paid Royal Imtech NV a damage restitution amount for the premature abolishment of the project. Not the other way around!

the assumption in my article that Imtech would pay Adventure World a damage restitution amount, was a mistake!

Unfortunately, Irene Kersseboom could neither further inform me about the height of the amount nor about the reasons for Imtech and AWW to bilaterally end their contract. This has been part of a private deal between both parties, that will not be disclosed.

She did tell me, however, that a forensic investigation has been started into the events that coincided at Imtech’s Polish Adventure World project. The results of this investigation still might take a few weeks before being delivered.

Of course, I will follow these events with the utmost interest and I will write a follow-up article, whenever I consider this appropriate.

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