(AOF) – Signaux Girod has carried out, through the intermediary of the company International Girod, the sale of 100% of the shares of the company Girodservices, its Spanish subsidiary, to the company Cinnia Group SL, a company under Spanish law represented by Josep Costa , current manager of Girodservices.
“With a very high level of debt, the activity of this subsidiary and its development prospects no longer corresponded to the group’s expectations and international strategy, which is centered on the development of its presence in emerging or high-potential markets. , as well as on the growth of its existing subsidiaries,” explained Signaux Girod.
AOF – LEARN MORE
Find out more about the BTP / Construction sector
Double punishment for the sector
The French Building Federation (FFB) recently warned of the collapse of the new housing market. Over the first eight months of 2022, sales of the new home market in the diffuse sector collapsed by 26.8% over one year. As for sales of new homes in the grouped sector, sales to individuals fell by 17.3% over one year in the first half, while sales to institutions fell by 23%. The trend is the same for the sale of collective housing, down 9.8%.
These bad trends are accompanied by a decline in public investment, while repayments of PGE begin. Due to a lack of visibility, local authorities prefer to suspend certain projects. They also have to face a drop in their resources and a significant increase in the cost of energy and works. However, the most significant investments are generally made during the third and fourth years of the local authorities’ mandate, that is to say in 2023 and 2024. This therefore represents a significant shortfall for the sector.