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Dyeing Printing & Finishing

Dystar Resumes Deliveries, Restarts Investor Search

After filing for bankruptcy in September 2009, Germany-based DyStar Textilfarben GmbH, DyStar Textilfarben GmbH & Co. Deutschland KG and DyStar Holdings GmbH -- providers of dyes, auxiliaries and services for the textile and leather processing industries -- report talks with banks and secured creditors are moving forward and the companies have been granted permission to continue supplying their customers. DyStar Textilfarben GmbH & Co. Deutschland KG also has restarted production at its manufacturing facility in Geretsried.

Prefinancing of insolvency payments owed to DyStar Textilfarben GmbH's 73 employees as well as staff at DyStar Textilfarben GmbH & Co. Deutschland KG has been negotiated.  "We are setting up a control point with the agency for labor to look for a good solution for extraordinarily affected employees," said Dr. Stephan Lauabereau, preliminary insolvency administrator of DyStar Textilfarben GmbH & Co. Deutschland KG.

DyStar also has resumed a search for investors. "We have already conducted initial talks with potential investors," said Miguel Grosser, preliminary insolvency administrator of DyStar Textilfarben GmbH. "It is still too early, though, to assess the situation."

November/December 2009

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