EQS Group-Ad-hoc: Airopack Technology Group AG / Key word(s): Capital Reorganisation
Airopack Technology Group - Major Lenders initiate Enforcement of Pledge over Shares in I.P.S. B.V. - Intention to rescale production site in Waalwijk (NL)
14-Feb-2019 / 06:51 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Airopack Technology Group
- Major Lenders initiate Enforcement of Pledge over Shares in I.P.S. B.V.
- Intention to rescale production site in Waalwijk (NL)
Baar, 14 February 2019 - Airopack Technology Group AG ("Airopack") announced today that it has been notified by the major lenders that, as part of the enforcement steps undertaken by the major lenders (see press release of 12 February 2019), a court proceeding has been commenced in the Netherlands to enforce the pledge over the shares in I.P.S. B.V. which was granted by I.P.S. Holding B.V. In connection with certain ancillary enforcement steps undertaken by the major lenders and if approved by the court, this would have the effect to separate Airopack Technology Group AG and its direct subsidiary I.P.S. Holding B.V. from the operating subsidiaries of Airopack Group. If the enforcement will be approved by the Dutch court as requested by the major lenders, the pledgor I.P.S. Holding B.V. may not expect to receive any proceeds from the enforcement and there may still be guarantee liabilities outstanding towards the major lenders by Airopack Technology Group AG and I.P.S. Holding B.V.
Airopack further announced that Airopack B.V. has the intention to reorganise its manufacturing site in Waalwijk (NL) to optimise the factory and reduce future operating costs. Based on a new business plan and sales assumptions that Airopack's new management team have developed, the existing manufacturing capacities at the Waalwijk factory will be rescaled.
Airopack Technology Group AG
Antoine Kohler, Chairman
Blegistrasse 5/1 OG
TF: +41 41 768 50 50
Airopack Technology Group AG
TF: +41 79 209 77 50
Tolxdorff Eicher Kollektivgesellschaft
Daniel Eicher / Theresia Tolxdorff
TF: +41 44 718 25 25
Airopack Technology Group AG is a leading developer and supplier of mechanical and pressure-controlled dispensing packaging technologies and systems for manufacturers and suppliers of cosmetics, body care, pharmaceutical and food products. The revolutionary and worldwide and solely by ATG patented Airopack(R) technology offers a safe, all-plastic pressurized dispenser that is environmentally and planet friendly
Airopack Technology Group operates a Airopack Ready to Fill manufacturing facility in Waalwijk, The Netherlands and a Full-Service Filling operation in Heist-op-den-Berg Belgium (Airosolutions) as well as a manufacturing plant for filling equipment in Houten, The Netherlands (Airofiller Equipment Solutions), The Global Research and Development Team, the Airopack Global Management and Customer Service Organisation are located in Waalwijk, The Netherlands.
The shares of the company are listed on the Swiss Reporting Standard of the SIX Swiss Exchange since 2010. (Ticker: AIRN / ISIN: CH0242606942).
This Ad Hoc Release / Press Release may contain certain forward-looking statements. In some cases forward looking statements can be identified by the use of terms such as "believes", "enables", "estimates", "anticipates", "projects", "expects", "intends", "may", "will", "seeks" or "should" or variations thereof, or by discussions of strategy, plans, objectives, goals, future events or intentions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances.
Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements. The success or achievement of various results, targets and objectives is dependent upon a multitude of factors, many of which are beyond the control of Airopack. No representations are made as to the accuracy of such statements or that such results, targets or objectives will be realized.