The preliminary insolvency administration of DyStar Textilfarben GmbH & Co. Deutschland KG today set up a works meeting to inform the employees on the current state of the investor process at the following locations: Frankfurt am Main, Leverkusen, Ludwigshafen, Geretsried and Brunsbüttel.

“There is no definite investor commitment at the moment“, explained the preliminary administrator Dr. Stephan Laubereau. “However, the search for a suitable investor continues. Investors can buy individual solutions or the comprehensive package.”

Employees will be released from work next week, if no investor comes forward before December 1st 2009. “This step is necessary because the insolvency administration has to bear all wages and salaries from 1st December. That is not an option due to the cash position,” Mr Lauerbrau said.

The release of employees is revocable if an investor is found. In addition the insolvency administrator explained that he is checking the possibility of an interim employment society.