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01-17-2008

Battenfeld: Bridging Liquidity Squeeze

Battenfeld Kunststoffmaschinen Gesellschaft m.b.H., with the support of the state of Lower Austria, has been able to bridge its short-term liquidity squeeze. For the time being, this has ensured the survival of the leading manufacturer of plastic injection molding machines and automation cells.

A significant breakthrough was achieved after intensive negotiations between the Battenfeld management, the liquidator and the state of Lower Austria: to bridge the liquidity squeeze, the Landes-Hypothekenbank Niederösterreich has provided a current account advance of EUR 15 million.

Parallel to negotiations with several potential industrial investors, the realisation of a reorganisation plan is in progress. The aim is to find a new ownership structure that will provide a stable, future-oriented basis in the coming weeks.

With owner Adcuram an agreement regarding re-integration of the outsourced service- and spare parts business was achieved.

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