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Receivership for Trevira GmbH Trevira GmbH is to introduce a company reorganization plan. One of the world’s leading producers of polyester fibres, the company has presented a receivership request at its local Augsburg courthouse. All Trevira GmbH activity will continue unchanged during the reorganization period and customer orders will go on being dispatched as usual. The court has nominated Werner Schneider as director for the procedure: one of the best known German executives, he has already managed important cases. The receivership request was presented by the management, respecting the necessary notification times; in addition, the Indian group Reliance (owning Trevira) has undertaken to fully meet any residual debts Trevira GmbH may have with the banks. An expert in shake-ups, the new company director Ms. Baeuerle was recently invited by Reliance to helm the company. Assigned the task of implementing the company reorganization plan, she explained which will be the first measures to adopt in reorganising the company. The question we need to answer is: “where do the profits arise and where instead do the losses occur?” This question will be thoroughly examined in the coming weeks and will be useful in establishing which profitable sectors should be focus to the activities of Trevira – a competitive company with good products. In any case, the Reliance group has decided to no longer pursue its commitment in Trevira: the company will therefore be sold off to a suitable investor capable of offering Trevira long-term prospects. Ms. Baeuerle and Mr. Schneider will strive to save as many jobs as possible. “Nevertheless, given the difficult general economic situation, avoiding heavy cuts is not possible,” explained Ms. Baeuerle. We remind readers that Trevira GmbH is a company in the Reliance group, India, and is an innovative European manufacturer of polyester fibres, luxury filaments and brand products for the apparel, furnishings and car interiors industries as well as for the health and technical applications sectors. Its 5 production plants are located in Belgium, Germany, Denmark and Poland. Turnover for 2008 stood at 323 million euros while the company currently employs 1800 people. |
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