PETROTEC AG

  • WKN: PET111
  • ISIN: DE000PET1111
  • Land: Deutschland

Nachricht vom 02.10.2009 | 10:32

PETROTEC AG: Member of the Management Board Hana-Muriel Setteboun resigns


PETROTEC AG / Change of Personnel

02.10.2009 

Dissemination of an Ad hoc announcement according to § 15 WpHG,
transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.


Ad hoc disclosure pursuant to section 15 WpHG Petrotec AG: Member of the Management Board Hana-Muriel Setteboun resigns Borken, October 2nd, 2009 - The Supervisory Board of Petrotec AG (ISIN DE000PET1111) accepted, today, the request of Hana-Muriel Setteboun, Member of the Management Board, to be released from her position. Hana-Muriel Setteboun has requested to resign, with effect of October 18th, 2009, for personal reasons. The Supervisory Board thanks Hana-Muriel Setteboun for her work, and for her significant contribution in the restructuring process, in particular in financing and trade solutions, of the Company. Boaz Zafrir, CEO, will take over her responsibilities. Disclaimer As far as this ad hoc release contains forward-looking statements, these forward-looking statements are based on current assumptions and forecasts made by the management of Petrotec AG and other information currently available to Petrotec. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Petrotec does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments. About PETROTEC Since November 2006, Petrotec AG has been listed in the Prime Standard segment of the Frankfurt Stock Exchange under WKN PET111, ISIN DE000PET1111. Petrotec is one of the pioneers of the German biodiesel industry. The company started as early as 1998 with the development of a process to produce biodiesel from used frying and deep-frying oil. Petrotec's first industrial biodiesel production plant went turn-key in 2000. Petrotec's proprietary technology is capable of transforming virgin vegetable oils such as rapeseed, soybean or palm oil as well as hard-to-process oils and fats such as used cooking oils, animal fats and oils or fish oil in a single fully continuous process into biodiesel and, thus, is truly a multi-feedstock technology. The annual capacity of the plant in Borken (Westphalia), Germany, is 85,000 t biodiesel. In the first half of 2008 a second production has commenced operations in the deep-sea port of Emden with an annual capacity of 100,000 t. Unlike many of its competitors, Petrotec in its ongoing operations has for years now primarily produced biodiesel from used cooking oils in a fully continuous process. Treated used cooking oils as feedstock for biodiesel production can be up to 50 percent cheaper to procure than the rapeseed oil predominantly used by Petrotec's rivals in Europe. This could enhance the cost-competitiveness over other manufacturers of biodiesel, as 70-90 percent of biodiesel production costs relate to raw materials. End of the disclosure 02.10.2009 Financial News transmitted by DGAP
Language: English Company: PETROTEC AG Fürst-zu- Salm-Salm-Str. 18 46325 Borken-Burlo Deutschland Phone: +49 (0)2862 9100 19 Fax: +49 (0)2862 9100 99 E-mail: info@petrotec.de Internet: www.petrotec.de ISIN: DE000PET1111 WKN: PET111 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Hamburg, Stuttgart End of News DGAP News-Service

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