UTC Participações / Constran
Engineering group (Constran) that filed for judicial reorganization in July 2017.
On the timeline
Evidence
UTC Participações filed for judicial reorganization on July 17, 2017, in the 2nd Bankruptcy and Judicial Reorganization Court of São Paulo, to restructure debts of about R$3.4 billion owed to banks and suppliers.
Source: Lava Jato: UTC pede recuperação judicial — Jornal do Brasil, July 17, 2017 · News report of July 17, 2017 · open original ↗
Estadão Conteúdo (April 15, 2017) recorded, with data from the magazine O Empreiteiro and from Fitch: Constran (UTC) revenues fell from R$1.3 billion (2014) to R$758 million (2015), with more than 20 thousand layoffs since 2013 (74% of the workforce); Carioca Christiani-Nielsen lost 22% of revenue in 2014; Galvão had revenues of R$3.8 billion until 2014; Constran rose to 13th in the ranking in 2014 and fell to 18th in 2015; the contractors' backlog of works deteriorated.
Source: Construtoras queimam carteira de obras — IstoÉ Dinheiro (Estadão Conteúdo), Apr. 15, 2017 · News report of April 15, 2017 · open original ↗