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Final agreement between STRABAG consortium and Autostrada Pedemontana Lombarda

6 September 2019

All legal disputes settled
Termination of proceedings concerning the demand under the guarantee

Vienna/Milan, 6 September 2019-----STRABAG AG, as the contractor’s consortium leader, and Autostrada Pedemontana Lombarda S.p.A. announce that their principal agreement reached in April 2019 has now legally come into effect. A legal dispute in connection with the Pedemontana Motorway Project in northern Italy, which involves a consortium led by Austria’s STRABAG AG, had led the client to issue a demand under a guarantee in March 2018. The consortium deemed this to be unjustified. The present settlement agreement not only puts an end to the proceedings concerning the demand under the guarantee (from which STRABAG AG has already been released), it also concludes the pending legal disputes related to construction delays and any associated and considerable cost overruns.

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Marianne Jakl
STRABAG SE
Head of Corporate Communications
Group Spokeswoman

+43 1 22422 1174

pr@strabag.com

STRABAG SE is a European-based technology group for construction services, a leader in innovation and financial strength. Our activities span all areas of the construction industry and cover the entire construction value chain. We create added value for our clients by taking an end-to-end view of construction over the entire life cycle – from planning and design to construction, operation and facility management to redevelopment or demolition. In all of our work, we accept responsibility for people and the environment: We are shaping the future of construction and are making significant investments in our portfolio of more than 250 innovation and 400 sustainability projects. Through the hard work and dedication of our approximately 86,000 employees, we generate an annual output volume of around € 19 billion.
Our dense network of subsidiaries in various European countries and on other continents extends our area of operation far beyond the borders of Austria and Germany. Working together with strong partners, we are pursuing a clear goal: to design, build and operate construction projects in a way that protects the climate and conserves resources. More information is available at www.strabag.com.