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Eybl takes measures in context of administrative receivership proceedings
02
Mar '09
Eybl International AG announces that in the course of ongoing administrative receivership proceedings,the following measures have been taken or are being implemented:

After having filed for administrative receivership for the companies Eybl International AG and Eybl Austria GmbH on December 29th 2008, all operations and production sites started according to plan with the production again on January 7th 2009 thereby ensuring the full supply of Eybl's customers.

100% of the shares of the subsidiary Eybl Slovakia s.r.o. were sold to the Austrian subsidiary of the German Prevent DEV GmbH, headquartered in Wolfsburg.

Of the 600 staff members at the Krems and Gmünd sites who, in compliance with legal early-warning requirements, were registered with the Austrian Employment Agency AMS for potential lay-offs, up to 250 persons will actually be laid off.

The speedy implementation of these measures is meant to facilitate a positive conclusion of the administrative receiver-ship proceedings and to safeguard the existence of the Austrian Eybl production sites in Krems and Gmünd.

Due to the ongoing administrative receivership proceedings, publication of the financial results for the stub fiscal year 1 March – 30 September 2008, originally planned for this week, has been postponed to the end of April. According to a decision of the supervisory board of January 27th 2009, the annual shareholders' meeting of Eybl International AG was postponed from February 17th 2009 to May 14th 2009.

Eybl International, a company specialising in textile production, fabri-cation and components for auto-motive interiors headquartered in Krems in Lower Austria, operates internationally at production sites in Austria, Romania and Germany as well as at four distribution sites in Germany, France, Spain and Britain, and is recognised as a competent, reliable and innovative partner within the automotive sector.

Eybl International AG


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