DGAP-News: schlott gruppe AG: Financing no longer safeguarded
(firmenpresse) - DGAP-News: schlott gruppe Aktiengesellschaft / Key word(s): Capital
Reorganisation/Insolvency
schlott gruppe AG: Financing no longer safeguarded
17.01.2011 / 14:42
---------------------------------------------------------------------
Financing of schlott gruppe AG no longer safeguarded
- schlott gruppe committed to reliable customer service
- Management Board assessing corporate rescue through insolvency
proceedings
- Focus on securing jobs and assets
Freudenstadt/Nuremberg, 17 January 2011. Following the sudden and
unexpected breakdown of negotiations with a prospective investor at the end
of last week, proposals put forward at a meeting with the company's banks
for the purpose of securing additional funds for the sustained financing of
schlott gruppe AG today also failed. Thus, the continuation of schlott
gruppe AG as a going concern is no longer viable.
'The Management Board will now swiftly assess the possibilities of rescuing
the company by way of insolvency proceedings in order to secure as many
jobs and assets as possible and ensure that competition within the printing
industry is safeguarded,' said the CEO of schlott gruppe AG, Bernd Rose. He
went on to say that the Management Board considered the instruments
available under the German insolvency statute as a valid opportunity to
position schlott competitively within the marketplace.
'schlott gruppe will make every effort to serve its customers with the same
quality and reliability to which they have become accustomed', added Rose.
'Many customers and market players have a strong personal interest in the
continuation of schlott gruppe as a company.'
For the past two years, schlott gruppe AG has been undergoing a
far-reaching restructuring process. Among other things, the company's cost
structures were streamlined by a considerable margin and across the board,
while printing capacity was adjusted in line with market conditions.
'However, these measures have proved insufficient to compensate for the
unforeseen severity of the price slump for print products', said Rose.
'Additionally, the company's financial performance has been adversely
affected by rising commodity prices.'
For further information:
schlott gruppe AG
Marco Walz
Investor Relations&PR
Wittlensweilerstr. 3
72250 Freudenstadt
DEUTSCHLAND
Tel.: +49 7441 531-230
Fax: +49 7441 531-204
marco.walz(at)schlottgruppe.de
www.schlottgruppe.de
End of Corporate News
---------------------------------------------------------------------
17.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: schlott gruppe Aktiengesellschaft
Wittlensweilerstraße 3
72250 Freudenstadt
Deutschland
Phone: +49 (0)7441 531-230
Fax: +49 (0)7441 531-204
E-mail: marco.walz(at)schlottgruppe.de
Internet: www.schlottgruppe.de
ISIN: DE0005046304
WKN: 504630
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
109171 17.01.2011
Datum: 17.01.2011 - 14:42 Uhr
Sprache: Deutsch
News-ID 33008
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 235 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: schlott gruppe AG: Financing no longer safeguarded"
steht unter der journalistisch-redaktionellen Verantwortung von
schlott gruppe Aktiengesellschaft (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
