Porr AG: Surety bonds for the engineering industry

Aims

As a leading supplier of construction and civil engineering projects throughout Europe and the Middle East, PORR aims to realise projects that will enthral future generations. Central to this is a commitment to careful growth, based on a solid foundation of excellent customer service in every one of their business fields, resulting in sustainable added value and increased earnings.

To secure performance by its contractors, PORR has need of various guarantee and surety products. These vary in type and scope because each new construction project presents its own particular characteristics. In addition, each surety product needs to meet the legal requirements of the individual country where the construction project is taking place.

PORR operates in Austria, Germany, Switzerland, Poland, the Czech Republic, Norway, the United Kingdom and Qatar.

Our role

PORR AG was one of the first companies to approach us for security instruments. We have maintained intensive business relations with the Austrian construction specialist ever since we re-entered the surety business.

Jana Richter, Senior Account Manager, Atradius Surety Germany, explained:  “Maintaining close relationships is important because PORR AG needs products that are tailored in quite different ways according to the type and scope of the project. The company expects a quick decision on its requests, usually within 24 hours, because the pace of activity in construction projects demands it.”

Because PORR operates internationally, knowledge of the legal systems specific to the various countries it operates in is important, as well as the ability to communicate with us in the language of their choice. We currently have this covered in Germany, France, Spain, Italy, Sweden, Finland, Norway, Denmark and the Benelux countries, where our surety teams exploit extensive knowledge and expertise.

Issuing surety bonds with speed comes as a challenge, for which reason short consultative channels with guarantors are indispensable. We operate with excellent internal systems suitable for documentation and processing to ensure that everything is handled smoothly and efficiently.
 

Outcomes

We have been an important partner for PORR, offering a range of products that guarantee made-to-measure solutions that help them secure national and international customers and projects.

PORR benefits from our speed and efficient decision-making, which is further enhanced by our understanding of their needs and requirements. When PORR submits a request, we know just what they need.

The construction specialist also diversifies its banking policy with the use of insurance guarantees.

Technical expertise aside, what PORR AG appreciates more than anything is the good personal connection. Simply put, the “chemistry” is right, creating the best conditions for a long-term and trusting business relationship.

"In addition to expertise, the ability to exert control over the processes involved is crucial. There are few companies that have mastered both; Atradius is one", Alfred Gabler, Head of Finance at Porr AG.

About PORR AG

Based in Vienna, PORR AG is one of Austria’s leading construction companies. It provides modern and customised solutions in the fields of building construction and civil engineering, including road building and tunnel construction in Austria, other European countries and the Middle East.

Founded in 1869, the company has a long tradition in innovative, full-service provision that offers customers comprehensive, sophisticated solutions for construction projects of all types, from the early stages of development to delivery of turnkey projects.

Central to its long-term success is an unwavering customer focus and services that span the entire value chain in the construction industry. With everything from project development to actual construction and the production of construction-specific products, the company brings together under one roof a broad range of capabilities and expertise.