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Hochtief managers bow before Spanish owners
spain

Hochtief managers bow before Spanish owners

Germany’s biggest construction company Hochtief was effectively taken over by Spanish firm ACS on Thursday after the last opponent on the supervisory board bowed to the greater power of ACS and said he would not stand for re-election.
Industry boss sentenced to jail in Italy
Crime

Industry boss sentenced to jail in Italy

An Italian court on Friday sentenced German steelmaker ThyssenKrupp's director-general in Italy to 16.5 years in jail for the deaths of seven workers after a fire at its Turin plant in December 2007.
Hochtief cuts profit forecast as CEO resigns
Australia

Hochtief cuts profit forecast as CEO resigns

German construction group Hochtief on Monday cut its 2011 forecasts sharply after a profit warning from Australian unit Leighton, and said that its chief executive was stepping down. Shares in Hochtief plunged 9.2 percent in Frankfurt.
Construction industry continues to shrink
Economy

Construction industry continues to shrink

The Association for the German Construction Industry (HDB) says it expects overall turnover to shrink by one percent in 2011, just as it did in 2010. But individual branches of the industry will also prosper.