February 14, 2019 / 5:57 AM / 4 days ago

BRIEF-Airopack: Major Lenders Initiate Enforcement Of Pledge Over Shares In I.P.S. B.V.

Feb 14 (Reuters) - Airopack Technology Group AG:

* MAJOR LENDERS INITIATE ENFORCEMENT OF PLEDGE OVER SHARES IN I.P.S. B.V. - INTENTION TO RESCALE PRODUCTION SITE IN WAALWIJK (NL)

* INTENTION TO RESCALE PRODUCTION SITE IN WAALWIJK (NL)

* THIS WOULD HAVE EFFECT TO SEPARATE AIROPACK TECHNOLOGY GROUP AG AND ITS DIRECT SUBSIDIARY I.P.S. HOLDING B.V. FROM OPERATING SUBSIDIARIES OF AIROPACK GROUP

* AIROPACK FURTHER ANNOUNCED THAT AIROPACK B.V. HAS INTENTION TO REORGANISE ITS MANUFACTURING SITE IN WAALWIJK (NL) TO OPTIMISE FACTORY AND REDUCE FUTURE OPERATING COSTS

* BASED ON A NEW BUSINESS PLAN AND SALES ASSUMPTIONS THAT AIROPACK’S NEW MANAGEMENT TEAM HAVE DEVELOPED, EXISTING MANUFACTURING CAPACITIES AT WAALWIJK FACTORY WILL BE RESCALED Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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