Trevira Group Sales Process Stopped by Insolvency Administrator
December 8, 2009
BOBINGEN, Germany - The Trevira sales process was brought to an abrupt halt by an Insolvency Administrator, Werner Schneider, November 28th.
The fibre manufacturer was set to be sold to entrepreneurs Stefan Messer and Karl Gerhard Seifert but due to ongoing financial renegotiations, Schneider terminated the sales process. The insolvency administration became fed up with the investors continuing demands to decrease the sales price, jeopardizing the employees', customers' and suppliers' secure future.
Despite Messer and Seiferts forced withdrawal, Trevira Group has reason to remain optimistic, as a new company is set to take over in January 2010.
''In my many years of professional life, I have not encountered such an unusual development yet,'' said Werner Schneider of Messrs Schneider, Geiwitz & Partner.
The fibre manufacturer was set to be sold to entrepreneurs Stefan Messer and Karl Gerhard Seifert but due to ongoing financial renegotiations, Schneider terminated the sales process. The insolvency administration became fed up with the investors continuing demands to decrease the sales price, jeopardizing the employees', customers' and suppliers' secure future.
Despite Messer and Seiferts forced withdrawal, Trevira Group has reason to remain optimistic, as a new company is set to take over in January 2010.
''In my many years of professional life, I have not encountered such an unusual development yet,'' said Werner Schneider of Messrs Schneider, Geiwitz & Partner.
