VIENNA, Oct 10 (Reuters) - Austrian construction groupAlpine Holding is taking measures to deal with tough marketconditions and has adequate liquidity, it said on Wednesday,rejecting a magazine report that its finances were stretched.
"All the steps needed to address the difficult situationhave been implemented. The owner has promised full support.Liquidity has been sufficiently secured," Austria'ssecond-biggest construction company, a unit of Spain's FCC, said in a statement.
It was responding to a report that Austrian magazine Profilhad put on its website. FCC declined to comment on the report.
Citing from what Profil called an internal managementdocument presented to owners in Madrid on Sept. 20, the magazinesaid that Alpine needed 31 million euros ($40 million) in cashby the end of next week to keep going.
Profil said an external review ordered by Alpine Holdinghead Johannes Dotter had shown Alpine faced a 2012 pretax lossof 263 million euros after taking up to 400 million euros inwritedowns for "endangered projects" and low-value stakes.
Alpine's statement said it had hired a consultant toevaluate its situation.
"Various scenarios were described in the report that werepresented to the supervisory board to show how managementenvisioned handling the situation. The online (Profil) reportpicks out only one of the scenarios," it added.
Profil had said management was considering consultant KPMG'srecommendations to make divestments, get a capital injectionfrom FCC, and negotiate with lenders to get longer repaymentterms and 75 million euros in additional financing.
Talks with banks were planned for Friday, Profil said.
(Reporting by Michael Shields and Angelika Gruber in Vienna,additional reporting by Carlos Ruano in Madrid; Editing by MikeNesbit)
Keywords: ALPINE FCC/REPORT