Dusseldorf, April 17, 2012 - The insolvency court in Dusseldorf has today opened insolvency proceedings for Pfleiderer AG (ISIN DE0006764749) and ordered personal management or debtor in possession as expected. A respective request was filed by the Executive Board on March 28, 2012. Lawyer Horst Piepenburg who acted as a preliminary custodian until now was appointed as the custodian.
The opening marks an important milestone as it will allow to restructure the Pfleiderer Group by way of an insolvency process. The Executive Board will now consequently pursue the path and develop an insolvency plan which will form the basis for a reduction of debt and recapitalisation of the company.
About Pfleiderer:
The Pfleiderer AG (ISIN DE 0006764749) is one of the
world's leading producers of engineered wood. The company
employs approximately 4,900 people and operates 16
locations in North America, Western and Eastern Europe
producing engineered wood, surface finished products and
laminate flooring. Pfleiderer is a preferred partner of the
furniture industry, specialist and home improvement stores,
and interior design suppliers. In fiscal year 2010, the
Group generated consolidated revenues of approximately €1.5
billion.www.pfleiderer.com
Contact:
Analysts/Investors:
Pfleiderer AG
Lothar Sindel (Vice President Investor Relations)
Tel.: +49 (0) 211 - 929 638-20
E-Mail: lothar.sindel@pfleiderer.com
Media:
Brunswick Group GmbH
Sabine Morgenthal
Tel.: + 49 (0) 69 - 2400-5517
Christian Weyand
Tel.: +49 (0) 69 - 2400-5511
E-Mail: Pfleiderer@brunswickgroup.com
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