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| SStrabag withdraws from purchase agreement for Cemex activities Austrian construction giant Strabag withdrew from the purchase contract for the activities of Mexican cement maker Cemex in Hungary and Austria. The agreement had been signed in the summer of 2008. For the past 11 months, the purchase had been subjected to a review by the cartel authorities in Hungary and Austria. While the Hungarian authorities had already stated their conditional approval, approval by the Austrian authorities remained pending. The purchase agreement contained a commitment period until 30 June 2009. Following expiration of the deadline, Strabag has now withdrawn from the agreement. write your comments about the article :: © 2009 Construction News :: home page |