PETROPLUS HOLDINGS AG IN LIQUIDATION 
By
Petroplus Holdings AG Industriestrasse 24
CH-6304 Zug
Switzerland
Zug, Switzerland, January 5, 2012 - Petroplus Holdings AG
(SIX: PPHN) today announced that it is continuing
negotiations and discussions and will hold another meeting in
the coming days with its lenders under the Revolving Credit
Facility with the aim to secure necessary funding and
liquidity arrangements to enable the Company to meet its
current and future financial obligations. The negotiations
involve reviewing strategic options and securing other
sources of liquidity. The Company also announced that access
to all of its credit lines under the Revolving Credit
Facility has been suspended and access to its pledged bank
accounts with its Revolving Credit Facility lenders has been
restricted, pending the outcome of the negotiations with the
RCF lenders.
The Company also provided the following update in regards to
its operations, including its temporary economic shutdowns.
Petit Couronne is in the process of being safely shut down.
Labor actions at the site are currently restricting liftings
of products. Antwerp is expected to commence a safe shut down
in the coming days. Cressier is expected to run down crude
oil stocks early in the second half of January 2012.
Ingolstadt throughput is currently 60,000 bpd. Coryton
throughput is currently 100,000 bpd. The Company will provide
further updates to the public as needed.
Petroplus Holdings AG is the largest independent refiner and
wholesaler of petroleum products in Europe. Petroplus focuses
on refining and currently owns and operates five refineries
across Europe: the Coryton Refinery in the United Kingdom;
the Antwerp Refinery in Belgium; the Petit Couronne Refinery
in France; the Ingolstadt Refinery in Germany; and the
Cressier Refinery in Switzerland. The refineries have a
combined throughput capacity of approximately 667,000 barrels
per day.
Contact information: Petroplus Holdings AG
Fredrik Olsson; +41 (0) 58 580 1244
| distribué par | Ce noodl a été diffusé par Petroplus Holdings AG et initialement mise en ligne sur le site http://www.petroplusholdings.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-05 15:43:46 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
| Documents associés | |
| Petroplus Provides Further Update Regarding Its Revolving Credit Facility Negotiations |
