18.03.2017
Nabaltec AG DE000A0KPPR7
DGAP-Adhoc: Nabaltec AG: Agreement on the acquisition of all membership interests of the US subsidiary Nashtec LLC
DGAP-Ad-hoc: Nabaltec AG / Key word(s): Miscellaneous
Nabaltec AG: Agreement on the acquisition of all membership interests of the
US subsidiary Nashtec LLC
18-March-2017 / 07:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Nabaltec AG: Agreement on the acquisition of all membership interests of the
US subsidiary Nashtec LLC
Schwandorf, 18 March 2017 - Nabaltec AG has concluded an agreement to
acquire the 49% membership interest in the Nashtec LLC joint venture held by
Allied Alumina LLC, an affiliate of Sherwin Alumina Company LLC. Sherwin
Alumina Company LLC filed for bankruptcy in January 2016 and subsequently
wound down its operations and sold substantially all of its assets to Corpus
Christi Alumina LLC under a chapter 11 plan of liquidation, which chapter 11
plan was approved by the bankruptcy court on February 17, 2017.
Sherwin Alumina Company LLC was the raw materials supplier for Nashtec LLC
and held certain claims arising from loans which were provided to Nashtec
LLC. These claims will now be acquired by Nabaltec AG from Corpus Christi
Alumina LLC. In addition, Nashtec LLC will acquire (i) from Corpus Christi
Alumina LLC an adjacent parcel of land with production buildings and
technical equipment, and (ii) from Glencore Ltd. a stock of aluminum
hydroxide for the supply of raw material following the completion of the
stand-alone solution.
The agreements were signed on 17 March 2017 and will take effect
immediately.
With this arrangement, Nabaltec AG can begin retooling its production site
in Corpus Christi, Texas and ensuring the survival of Nashtec LLC and its
operations. Nabaltec AG anticipates a time frame through the end of 2017 for
the realization of this stand-alone solution.
It is expected that Nashtec LLC will resume deliveries to US customers at
the beginning of 2018. In the meantime, the American market will be supplied
from Schwandorf. Nabaltec AG has refrained from issuing a revenue and
earnings forecast for 2016 due to the Chapter 11 bankruptcy procedure of
Sherwin Alumina Company LLC.
Contact:
Johannes Heckmann
Nabaltec AG
Phone: +49 9431 53-201
Fax: +49 9431 53-203
E-mail: [email protected]
Frank Ostermair/Vera Müller
Better Orange IR & HV AG
Phone: +49 89 8896906-14
Fax: +49 89 8896906-66
E-mail: [email protected]
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18-March-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Nabaltec AG
Alustraße 50-52
92421 Schwandorf
Germany
Phone: +49 9431 53-0
Fax: +49 9431 53-260
E-mail: [email protected]
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7, DE000A1EWL99
WKN: A0KPPR, A1EWL9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange; Open Market (Scale) in
Frankfurt
End of Announcement DGAP News Service
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555409 18-March-2017 CET/CEST
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