SaarGummi announcement expected in next few weeks

ERJ staff report (DS)

Saarbrucken, Germany -- Administrators for the financially-troubled Saargummi Group have denied rumours that a Polish company has bought part of the SaarGummi group. Schultze & Braun, Administrators, added that the sale process is well advanced and expect to close the deal and make an announcement in the next few weeks.

The administrators said the group will be sold as one unit, as originally intended.

Last week, Polish chemical group Boryszew S.A. said it had placed a bid for the group, including the assets of SaarGummi GmbH, SaarGummi Deutschland and shares in both companies. Boryszew last year bought Maflow Group companies, which makeshoses for brake systems, air conditioning sy.stems and other applications. Saargummi makes automotive door and window seals.

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Press release from Schultze & Braun (German language)

Above press release auto-translated into English language (from German)

Press release from Boryszew SA