Friday, September 18, 2009

One of the largest construction companies closes

In May 2008, San José Inversiones went into voluntary liquidation with debts of 134 million Euros and 800 creditors. In November of the same year, the smaller company, Hercusa followed them with 40 million Eurors of debt.

Now, one of the largest construction companies in the region, Torrevisa has also had to shut up shop.

Torrevisa, better know as Torrevisa-Masa Internacional, started out as a Torrevieja family business in the eighties. The company survived the economic crisis in the early nineties and went on to build 30,000 houses during the 25 years they were in business.

In 2003, the company expanded and starting building in Brazil and Croatia. Under the title Masa, they brought clients from all over Europe to the Vega Baja on inspection trips rivalling companies like Atlas International in the second home housing market.

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