Zanders GmbH: Investor Process Enters the Decisive Phase

Press release from the issuing company

Core area is sold to the city of Bergisch Gladbach. Business operations will continue unrestricted.

Exploratory talks with potential investors regarding the acquisition of Zanders are entering a decisive phase: The interested parties already deal with details of the company such as technology, production, personnel and other details on-site. A conclusion can already be expected in November. The team around insolvency administrator Marc d'Avoine continues to be confident that he will be able to reach a solution that considers all stakeholders in the best possible way and paves the way for Zanders GmbH into the future.

The purchase of the "core area" of Zanders GmbH by the city of Bergisch Gladbach was approved by the City Council on 9 October and will be completed in a timely manner. This has a positive effect on the investor process. The city has already acquired the open space and buildings on the Gohrsmuehle around the core production area in 2017. The entire site of around 320,000 m² will thus be in the hands of the city in the future, which can implement a long-term, reasonable concept for securing the location. This is coordinated with the mayor Lutz Urbach and the insolvency administrator Dr. d'Avoine and lays the foundation for a long-term continuance of paper production at the site. The parties have agreed not to disclose details and in particular the purchase price.

Regardless of the investor process, the business operations of Zanders GmbH proceed unrestricted. The order situation continues to be positive: orders for the coming year are regularly confirmed and processed so that production planning already goes well into the first quarter of 2019. At the same time, the restructuring of the papermaker continues. Unfortunately, this also includes the reduction of staff by around 60 employees. As further restructuring measures, efficiency improvements could already be achieved in the production processes. The initiated restructuring course will thus continue successfully.

Insolvency process at Cologne District Court, docket number: 75 IN 232/18.


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