PRESS RELEASES
Change in the Operational Management of BIOPETROL INDUSTRIES AG
NB: Please note the disclaimer at the end of this press release
Zug, 24 September 2007. The Board of BIOPETROL INDUSTRIES AG has decided today to dismiss Mr. Rudolf Albert from his function as Vice-President and CFO and also to terminate the employment contract with Mr. Albert with immediate effect. The termination is based solely in the person of Mr. Rudolf Albert. Klaus Henschel, CEO: "The dismissal of Mr. Rudolf Albert is not related at all to the financial and operational situation of the Group. Special payments relating to the termination of Mr. Albert's employment contract will not be made."
Mr. Rainer Naumann, currently Managing Director and Financial Officer of a.o. BIOPETROL SCHWARZHEIDE GMBH, has taken over temporarily the tasks and duties from Mr. Rudolf Albert. Rainer Naumann joined BIOPETROL in June 2005. Since then he also performed important services for the Group's financial accounting, bookkeeping and consolidation. Klaus Henschel in his role as CEO of BIOPETROL INDUSTRIES AG has taken over the Investor Relations function with sole responsibility. The Board of BIOPETROL INDUSTRIES AG will actively support Klaus Henschel and Rainer Naumann until a new CFO is appointed.
About the company:
BIOPETROL INDUSTRIES AG, based in Zug, Switzerland, produces and distributes via its German and Swiss subsidiaries biodiesel and pharmaceutical grade glycerine of the highest quality. Its customers include the mineral oil industry and oil traders, large fleet operators, public transport, agriculture and the construction industry. In addition, glycerine is supplied to the pharmaceuticals and cosmetics industries.
At present BIOPETROL Industries AG produces about 350,000 tonnes of biodiesel and 30,000 tonnes of pharmaceutical grade glycerine per year in Schwarzheide and Rostock. In Rotterdam in the Netherlands, BIOPETROL is building a plant with an annual production capacity of 400,000 tonnes of biodiesel and 60,000 tonnes of pharmaceutical grade glycerine per year. By the end of 2008, annual capacity is to be more than doubled to 750,000 tonnes of biodiesel. A further enlargement of capacity in Rotterdam is under consideration in addition to securing growth by means of purchases and expansion of the product range based on the by-product glycerine.
Disclaimer
This press release is neither an offer to sell nor an invitation to submit an offer to buy or subscribe to securities. This release and the information that it contains are not intended for direct or indirect circulation to or within the United States of America, Canada, Australia or Japan.
[ Home | Sitemap | Credits | Deutsch | Nederlands ]
Print
Recommend