AGRANA Beteiligungs-AG

Regulatory Filings • Dec 27, 2004

News Details

Ad-hoc | 27 December 2004 17:54

DGAP-Ad hoc:Agrana Beteiligungs-AG: Maize Starch Factory in Hörbranz (Vorarlberg Province)

Agrana Beteiligungs-AG: Maize Starch Factory in Hörbranz (Vorarlberg Province) Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ At the end of December 2004, AGRANA terminated the lease agreement with Mr. E. Deuring with effect from 30 June 2005. The consequence of the lease termination will be the discontinuation of maize starch production at the Hörbranz site in the course of the first half of 2005. The closure will affect 46 employees. A hardship prevention plan is in preparation. AGRANA took the company over from the Deuring family as a loss-making business in 2002. Despite many and diverse remedial measures, positive and sustainable scenarios for the continuation of the business have failed to emerge. Consequently, for economic reasons, closure is unavoidable. The factory will record revenues of about EUR 5.9 million in the 2004/05 financial year. This press release is also available in the Internet at http://www.agrana.com. Agrana Beteiligungs-AG Donau-City-Straße 9 (Strabag-Haus) 1220 Wien Austria ISIN: AT0000603709 WKN: 060370 Listed: Wiener Börse; Amtlicher Handel in Wien End of ad hoc announcement (c)DGAP 27.12.2004 271754 Dez 04