15.01.2016
Nabaltec AG DE000A0KPPR7
DGAP-News: Nabaltec AG: Nashtec's current supply of APYRAL(R) 40 CD for its customers is secure
DGAP-News: Nabaltec AG / Key word(s): Miscellaneous
Nabaltec AG: Nashtec's current supply of APYRAL(R) 40 CD for its customers
is secure
15.01.2016 / 12:12
The issuer is solely responsible for the content of this announcement.
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Nashtec's current supply of APYRAL(R) 40 CD for its customers is secure
Schwandorf, 15 January 2016 - Nashtec LLC, a Delaware limited liability
company, is a joint venture company between Nabaltec (which holds 51% of
the membership interests in Nashtec) and Allied Alumina LLC (which holds
49% of the membership interests).
On Monday January 11, 2016, Nashtec's supplier of aluminum hydroxide
required for the production of APYRAL(R) 40 CD, Sherwin Alumina LLC, filed
a petition in the U.S. Bankruptcy Court in Corpus Christi, Texas, for
relief under chapter 11 of the U.S. Bankruptcy Code. Sherwin is continuing
to operate its business in the ordinary course while under bankruptcy court
protection. At the Nashtec facility, this will also cause no supply
limitations to the customers. Sherwin's filings with the bankruptcy court
included a proposal to sell its alumina production plant and all of its
other assets to Corpus Christi Alumina LLC, a Delaware limited liability
company, or to a third party that presents a higher and better bid. Until
the proposed sale is approved by the bankruptcy court to Corpus Christi
Alumina or a higher and better bidder, and a sale to the successful bidder
is consummated, Nabaltec expects that Sherwin will supply Nashtec with
aluminum hydroxide under the terms of the existing supply agreement between
Sherwin and Nashtec. Upon consummation of the sale of the alumina
production plant, the supply of aluminum hydroxide may be subject to a
further agreement to be concluded between Nashtec and the buyer.
About Nabaltec AG:
Nabaltec AG, with registered office in Schwandorf, a chemicals business
which has received multiple awards for innovativeness, manufactures,
develops and distributes highly specialized products based on aluminum
hydroxide ("ATH") and aluminum oxide, as well as other raw materials, on an
industrial scale through its "Functional Fillers" and "Technical Ceramics"
divisions. The company's product range includes halogen-free flame
retardant fillers and eco-friendly additives for the plastics industry.
Flame retardant fillers are used e.g. in cables in tunnels, airports,
high-rise buildings and electronic devices, while additives replace
stabilizers containing heavy metals in PVC processing. Nabaltec also
produces base materials for use in technical ceramics, the refractory
industry and catalysis. Unlike halogenated flame retardant fillers, the
products manufactured by the company's "Functional Fillers" division
contain no hazardous substances and do not require separate disposal.
Rather, the company's flame retardant fillers actually decrease the
development of fumes hazardous to human health and the environment in the
event of fire. Nabaltec maintains production sites in Germany and the US
and plans to continue to consolidate its market position by expanding
capacity, further optimizing processes and quality and making strategic
extensions to its product range. On the strength of its specialty products,
the company strives to attain the market leadership in each segment.
Contact:
Heidi Wiendl-Schneller
Nabaltec AG
Phone: +49 9431 53-202
Fax: +49 9431 53-260
E-mail: [email protected]
Frank Ostermair
Better Orange IR & HV AG
Phone: +49 89 8896906-14
Fax: +49 89 8896906-66
E-mail: [email protected]
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15.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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: info @nabaltec.de
Internet: www.nabaltec.de
ISIN: DE000A0KPPR7, DE000A1EWL99
WKN: A0KPPR, A1EWL9
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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