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'Trevira will be sustained in any case' - Dr. Seifert

06
Aug '09
The Sale includes the Trevira production sites in Bobingen and Guben (Germany), Zielona Gora (Poland), the Marketing & Sales office in Hattersheim (Germany), all trademark/IP rights and patents of the Trevira Group as well as some sales offices. "Our objective was to hand over the company as completely as possible to an investor who is interested to continue to run the company on a long-term and independent basis. With the sale to these two experienced managers, this objective has been met", says Werner Schneider. The deal subject to reservation of financing and is scheduled to be concluded by end of September 2009.

Trevira has the best perspectives
Stefan Messer and Dr. Karl-Gerhard Seifert have announced that they will bring the company back on a path of success: “We are convinced that, after several changes of owners in the past ten years, the restructured Trevira Group has all preconditions again to be become a stable company and fit for the future”, comment Messrs. Messer and Seifert after signing the contract.

Trevira is no stranger to Messer and Seifert: the company was part of the former Hoechst AG, and so were two thirds of the shares of former Messer Griesheim Group. During the restructuring process of Hoechst AG, Seifert had taken over Cassella in Frankfurt-Fechenheim which runs under the name of AllessaChemie today. Mr Messer managed, with support of financial investors, to transfer parts of the former Messer Griesheim Group into 100% family ownership in 2004.

Brand name "Trevira" will be sustained in any case
"The negotiations with the investors, Messrs. Messer and Dr. Seifert, have taken place, from the very beginning, in a very positive and trustful atmosphere. I have realized very soon the willingness to give the Trevira Group a safe perspective", Werner Schneider comments the process of negotiations. In order to make a fast sale possible, the company parts concerned will be transferred into a new company. Great value was attached to sustaining the brand name Trevira, thus ensuring that it will not lose its promotional importance.

Both parties have agreed not to disclose the price of the sale. The sum will go into the insolvency assets and will serve to satisfy the claims of the creditors. The new company will have approx. 1.450 employees, thereof 1300 in Germany including 40 trainees, and an estimated annual turnover of approx. 210 mn. euros.

"Within six weeks we have managed to conclude a sales process und thus safeguarded the future of the company. I am very optimistic that also our customers and suppliers will stand by Trevira", 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.

Insolvency proceedings continue
The insolvency proceedings for Trevira GmbH and Trevira Holding GmbH will continue, headed by the Insolvency Administrator, CA Werner Schneider. Currently it is not yet possible to comment on how long the proceedings will take. After the successfull sale of substantial parts of the company, the focus will now be on implementing a Management-buyout solution for the two subsidiaries in Belgium and Denmark. "If everything goes according to our plans, we will be able to sustain more than three quarters of all previous jobs in the Trevira Group“, says Insolvency Administrator Werner Schneider.

Trevira GmbH


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