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July 4, 2016

German Pellets insolvency administrator hands over three plants; US plants continue production

After all agreed upon conditions set in the contracts of 1st May 2016 have been met by the end of June, the buyers of three German plants of the insolvent German Pellets GmbH took over as of today their property from the insolvency administrator Bettina Schmudde, attorney and partner at the law firm White & Case in Hamburg.
Wismar Pellets GmbH, controlled by Metropolitan Equity Partners Management, LLC, New York, took ownership of the plant in Wismar, while J. Rettenmaier & Söhne GmbH + Co KG took responsibility as owner of the plants of Ettenheim and Herbrechtingen.

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