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14.02.2011 Greiner Holding AG

The restructuring process for Xolar GmbH

Business to continue with the existing structure; Business as usual guarantee for handling of all contracts

Eberstalzell/Kremsmünster, Austria, 14. February 2011 – A restructuring procedure without a self-administration component has been opened against Xolar GmbH. A majority holding in the company was taken over by Greiner Technology & Innovation GmbH, the latest division of the Greiner Holding AG, on 26 January 2011. “A restructuring process has been started, because we were regrettably unable to obtain the agreement of all the creditors for out-of-court proceedings”, Dr. Franz Fraundorfer, CEO of Xolar GmbH commented.

Smooth continuation of business

Operative business will continue uninterrupted with the existing structures. Xolar GmbH is currently involved in processing 160 contracts. “As the new proprietors of Xolar GmbH we guarantee contract completion to schedule and in the usual high quality standard”, Hannes Mösender, CEO of Greiner Technology & Innovation GmbH said.

 

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Hannes Möseneder, © weinfranz Franz Fraundorfer, © Greiner Headquarters Xolar & Sun Master, © Greiner Press release as PDF Legend (1): Hannes Möseneder, CEO of Greiner Technology & Innovation GmbH
Legend (2): Dr. Franz Fraundorfer, CEO of Xolar GmbH
Legend (3): The headquarters of Xolar GmbH, Eberstalzell/Upper Austria

(1) Printing free of charge when source is named.
(2)+(3) Printing free of charge.