German Pellets resumes production

Source:
Fordaq
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The insolvent German Pellets has restarted production in Wismar today. The creditors' committee had agreed on the start of production, in order that the plant not to suffer more losses. The money for the resumption of the production comes from the insolvency administrator itself.

''It is advisable to let the plant run to arouse interest of potential buyers,'' said the spokesman of the provisional insolvency administrator Bettina Schmudde, Wolfgang Weber-Thedy. 

Weber-Thedy said the production will run on one of the two lines in Wismar. The primary objective is the sale of the German Pellets Group as a whole. In this respect, it seems that there are already numerous potential acquirers. The German media mentioned 122 so far. If the sale as whole fails, the second option would be the sale of parts of the group. 

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