Spain’s ACS, OHL clash in New York

Next Autumn, a panel of arbitrators will open hearings over the New York dispute confronting Spanish construction giants OHL and ACS, which blame each other for the mismanagement of tunnel excavation costs in their joint venture for a subway project. But its outcome is unfortunately known, already: it is set to please nobody. Least of all investors in both companies, analysts in Madrid say. Works to extend the Long Island metropolitan…

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Spain’s construction company OHL to build Russian Olympic Flame resort

MADRID | After the bubble burst, the category of construction activity rapidly turned into a trap for many Spanish companies. Its dramatic effects have during the last four years shaken and closed enterprises, in the small and medium size sections as much as among the large corporative groups. Those who strive to survive the downturn must now find an edge, and Obrascon Hurate Lain or OHL may have proved just that.