Description

On 01/04/2016 the insolvency proceedings concerning the assets of German Pellets Sachsen GmbH were opened. Bettina Schmudde of White & Case legal advisiors in Dresden was appointed as insolvency administrator. The PLT Pellet Lohnfertigung Torgau GmbH (PLT) has mandated CVM Capital Value Management GmbH with the purchase process. German Pellets Sachsen GmbH was with currently 22 employees a subsidiary of the German Pellets Group which was one of the world’s leading producers and distributors of wooden pellets. The products are used for private and industrial heat supply with pellet heating systems. Another business segment comprises the production and distribution of green energy. For this purpose, two biomass power plants produce in Torgau a total electricity output of 15 to 18 GWh per year. PLT Pellet Lohnfertigung Torgau GmbH has been newly founded and has already started its operations. After the necessary repairs have been carried out, the factory is expected to reach full load in the short term. All employees are taken over. Furthermore the PLT has leased the business premises and has taken all employees. CVM Capital Value Management GmbH supported the entire process. On 14/06/2016 the operating business successfully has been sold to PLT Pellet Lohnfertigung Torgau GmbH.