Polytec Holding AG

EANS-Adhoc: Polytec Holding AG
Agreement in principle reached about POLYTEC after nightly marathon negotiations

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Company Information

30.04.2009

After the acquisition of PEGUFORM GROUP, which was temporary financed by short term loans, POLYTEC Holding AG got into a financial disorder, as a repayment in time was uncertain. That circumstance was mainly caused by the immediately occurred financial crisis after the closing of the acquisition.

Objective of the following negotiations with involved banks (Raiffeisenlandesbank OÖ, Oberbank, Unicredit Bank Austria, Investkredit AG, BAWAG) was, to ensure the continuity of the Group without insolvency.

During intensive negotiations, an agreement without insolvency has been achieved, which requires the final approval of each board. This will happen within the next couple of days. Further information about the agreement and the further proceeding will be disclosed by POLYTEC Holding AG after the final approvals.

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ots Originaltext: Polytec Holding AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Manuel TAVERNE
POLYTEC GROUP                
Investor Relations
Tel.+43(0)7221/701-292    
manuel.taverne@polytec-group.com

Branche: Industrial Components
ISIN:      AT0000A00XX9
WKN:        A0CA1R
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market



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