FCC has made further progress in strengthening the management of Alpine, its subsidiary in Central and Eastern Europe, with the appointment of Alejandro Tuya as Chief Executive. Previously he shared this responsibility with Johannes Dotter, who has decided to step down due to differences over the business model. Mr Dotter's position at Alpine Holding will be filled in the near future.

This appointment reinforces Alpine's organisational structure for implementing the business plan that was launched just a few months ago. The objective is to focus on activities and countries where it has a greater market share and a longer track record, particularly in Austria and Germany, and to coordinate internationalisation with FCC Construction.

At the beginning of the year, Alpine became a wholly-owned subsidiary of FCC after the latter acquired 13.5% from Dietmar Aluta, one of the company's founders. In July, Group Chief Executive Baldomero Falcones was appointed Chairman of Alpine's Supervisory Board, in place of Dietmar Aluta. FCC would like to thank Johannes Dotter for his leadership of the company over the last few months.

Alpine's business plan focuses, among other factors, on the economic and financial performance of its various projects, including the possibility of adjustments and hedging duly identified risks. Under the plan, these adjustments are made in the ordinary course of business and are examined by the auditor at year end.