PETROTEC AG / Liquidity Problem/Miscellaneous
18.06.2009
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 pursuant to section 15 WpHG
Petrotec AG: new liquidity scenario
Borken, June 18th, 2009 - Petrotec AG (ISIN DE000PET1111) adapted its
expectations for the ongoing business year to the market environment. From
todays perspective Petrotec might need further liquidity. Therefore,
Petrotec might be in the future further reliant on the support of the major
shareholder ICG and of banks. The management board has already started
those talks. For the coming months the Company will have sufficient
liquidity.
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 could enhance Petrotec's
cost-competitiveness over other manufacturers of biodiesel, as 70 to more
than 90 percent of biodiesel production costs relate to raw materials.
End of the disclosure
DGAP 18.06.2009
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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: New liquidity scenario
| Source: EQS Group AG