Ziemann Group faces change of ownership

Ziemann has applied for the opening of insolvency proceedings at the local District Court of Ludwigsburg. The Stuttgart lawyer Dr Tibor Braun was appointed as the provisional insolvency administrator. The objective of this proceeding is to successfully complete the sales process for the company, which was initiated five months ago. In November 2011 the shareholders of Ziemann transferred their shares to trustees, the lawyers Mr Volker

Grub and Mr Ulrich Brugger. Together with the General Management of the Ziemann Group and the M&A department of the Berenberg Bank Hamburg the trustees initiated the investor process, which will now be successfully completed in the course of the insolvency proceedings.

Holvrieka intends to take over the sites in Ludwigsburg and Bürgstadt with the brewery and tank business. A basic agreement has already been reached. The takeover shall take place soon.

For the legally and economically independent company Ziemann France takeover negotiations were conducted with a French financial investor and participation of the Management. Here it was also possible to reach a basic agreement.

There are also individual solutions for the other Ziemann sites.

The Holvrieka Group is located in Emmen/The Netherlands and is engaged in the design, development, manufacturing and engineering of stainless steel process and storage and ship tanks, according to customer specifications, so as liquid food (including beer, fruit juice and milk) industries. The Holvrieka Group has five operating subsidiaries in Europe and China, is part of the Hong Kong listed CIMC Enric Group and generated a total turnover of 850 million EUR in 2011.