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Insolvency court grants SKW’s request for preliminary self administration and protective shield

Dr. Christian Gerloff preliminary custodian



  • Competent local court of Munich orders preliminary self-administration and protective shield as requested
  • CEO of SKW will elaborate an insolvency plan aligned with the preliminary custodian


München, September 29, 2017 – The local court of Munich being the competent insolvency venue has appointed Dr. jur. Christian Gerloff, Partner of Law Firm Gerloff Liebler Rechtsanwälte, Munich, to be the preliminary custodian of SKW Stahl-Metallurgie Holding AG and has ordered preliminary self-administration plus protective shield. Gerloff amongst other tasks was insolvency administrator of Escada AG und restructuring officer of Wöhrl AG. The preliminary custodian accompanies and controls the CEO in the interest of the creditors.

“The company is well prepared for this step, therefore no constraints on the running of the business and good to changes for a successful restructuring”, says Gerloff.

CEO of SKW Stahl-Metallurgie Holding AG in alignment with Gerloff will elaborate an insolvency plan to financially restructure the company and design the future of SKW group.

Operative affiliates are not affected by Holding’s insolvency filing.

SKW group’s operative business activities worldwide continue without constraints.

Contact

Thomas Schulz
Phone: +49 171 86 86 482
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.


About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group

The SKW Metallurgie Group is a global market leader for chemical additives for hot metal desulphurization and for cored wire and other products for secondary metallurgy. The Group’s products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US, Canada, Mexico, Brazil, South Korea, Russia, the Peoples' Republic of China and India (joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange's Prime Standard since December 1, 2006; since 2011 (conversion to name shares) with ISIN DE000SKWM021.

Disclaimer
This press release may include certain forward-looking statements which are based on currently available assumptions and predictions of the SKW Metallurgie Group‘s management as well as on other currently available information. Various identified as well as unidentified risks and uncertainties as well as other factors may result in a deviation of actual results, financial situation, development or achievement of the company compared to the assessments made herein. SKW Stahl-Metallurgie Holding AG does not intend and assumes no liability to update such forward-looking statements and to adjust them to future events and developments.