German panel maker the Hornitex Group hopes to have a new owner within weeks.
Investors Bridge-Point Capital GmbH and Orlando Management GmbH have each tabled unsuccessful offers for the company during negotiations and are believed to be preparing further bids soon.
Hornitex receiver Dr Werner Schreiber has said the two investors are looking to purchase all Hornitex enterprises as one unit, taking control of the company’s panel sites at Horn-Bad Meinberg, Duisburg, Nidda and Beeskow.
Dr Schreiber said: ‘It is particularly worth emphasising that the two financial investors, who have demonstrated their credit rating, are trying to bring about the takeover of all Hornitex enterprises as one unit, so that Hornitex can remain on the market as an independent competitor.’
Pfleiderer AG Neumarkt officially withdrew its offer to takeover Hornitex in March. The move was described by Dr Schreiber as ‘surprising’ given that Pfleiderer been conducting negotiations with the IG Metall trade union and Hornitex works councils about takeover proposals.
Hornitex was declared insolvent in August 2000.
