PETROTEC AG / Change of Personnel/Change of Personnel
03.03.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc disclosure in accordance with Section 15 of the German Securities
Trading Act
Petrotec AG: Management Board Spokesman Roger Böing not available for
prolongation of contract
Borken, March 3, 2009 - The Spokesman of the Management Board of Petrotec
AG (ISIN DE000PET1111), Roger Böing, informed the Supervisory Board today
that for personal reasons he has decided not to prolong his contract, which
expires on September 30, 2009. Roger Böing will then relinquish the
function of Spokesman of the Management Board, which he will leave.
The Supervisory Board acknowledges Roger Böing's decision with respect and
regret. The Supervisory Board and Management Board welcome the fact that
Mr. Böing has indicated that, after leaving the Management Board, he will
continue to make his knowledge and experience available to the Company.
Disclaimer
As far as this ad hoc release contains forward-looking statements, these
forward-looking statements are based on current assumptions and forecasts
made by the management of Petrotec AG and other information currently
available to Petrotec. Various known and unknown risks, uncertainties and
other factors could lead to material differences between the actual future
results, financial situation, development or performance of the company and
the estimates given here. Petrotec does not intend, and does not assume any
liability whatsoever, to update these forward-looking statements or to
conform them to future events or developments.
About PETROTEC
Since November 2006, Petrotec AG has been listed in the Prime Standard
segment of the Frankfurt Stock Exchange under WKN PET111, ISIN
DE000PET1111. Petrotec is one of the pioneers of the German biodiesel
industry. The company started as early as 1998 with the development of a
process to produce biodiesel from used frying and deep-frying oil.
Petrotec's first industrial biodiesel production plant went turn-key in
2000. Petrotec's proprietary technology is capable of transforming virgin
vegetable oils such as rapeseed, soybean or palm oil as well as
hard-to-process oils and fats such as used cooking oils, animal fats and
oils or fish oil in a single fully continuous process into biodiesel and,
thus, is truly a multi-feedstock technology. The annual capacity of the
plant in Borken (Westphalia), Germany, is 85,000 t biodiesel. In the first
half of 2008 a second production has commenced operations in the deep-sea
port of Emden with an annual capacity of 100,000 t. Unlike many of its
competitors, Petrotec in its ongoing operations has for years now primarily
produced biodiesel from used cooking oils in a fully continuous process.
Treated used cooking oils as feedstock for biodiesel production is up to 50
percent cheaper to procure than the rapeseed oil predominantly used by
Petrotec's rivals in Europe. This enhances Petrotec's cost-competitiveness
over other manufacturers of biodiesel, as 70-90 percent of biodiesel
production costs relate to raw materials.
End of the disclosure
DGAP 03.03.2009
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Language: English
Issuer: PETROTEC AG
Fürst-zu- Salm-Salm-Str. 18
46325 Borken-Burlo
Deutschland
Phone: +49 (0)2862 9100 19
Fax: +49 (0)2862 9100 99
E-mail: info@petrotec.de
Internet: www.petrotec.de
ISIN: DE000PET1111
WKN: PET111
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: PETROTEC AG: Management Board Spokesman Roger Böing not available for prolongation of contract
| Source: EQS Group AG