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Trevira: talks with investors close to finishing line

25
Jul '09
"The discussions with investors are proceeding absolutely on schedule. I expect a conclusion within the next 14 days", comments Werner Schneider, chartered accountant and preliminary insolvency administrator, on the status of the current negotiations. This means that the ambitious time schedule can be met.

Neu-Ulm/Bobingen, 24 July 2009. The participants in the negotiations deliberately agreed not to disclose details on the investor's offers submitted so far, or on the enterprises involved. The negotiations should be held with the necessary calm and professionality. The aim remains unchanged: a sale of the Trevira Group, in order to maintain it, as far as possible, as an indepedent business and to secure as many jobs as possible.

Preparations for the opening of the insolvency precedure on 1st August 2009 are being continued, according to CA Schneider. The necessary steps for this have also been initiated respectively. Continuation of the operative business is guaranteed, even after opening of the regular insolvency procedure.

This is also due to the continued stable volume of incoming orders and a good production capacity utilization in all locations. „The customers stand by us – this gives us confidence in a successful future“, says Uwe Wöhner who supports the process of the sale and, at the request of the insolvency administrator, is also responsible for the operative business.

Trevira


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