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The information contained in these press releases and statements was accurate, in all material respects, at the time of issuance. However, Continental Aerospace Technologies GmbH assumes no obligation to update the information to reflect subsequent developments.
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Jun. 27, 2008
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Equal opportunity for investors
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Lichtenstein in Saxony, Germany – Bruno M. Kübler, insolvency administrator for Thielert Aircraft Engines GmbH, responds to the proposed formation of a syndicate to take over the company:
"As the officially appointed insolvency administrator, I have a clearly defined mission: to achieve the best possible outcome for the creditors, the company, and also its employees.
Anyone who tries to exert public pressure in hopes of gaining an advantage will not get far. On the other hand, everyone is perfectly welcome to participate in the bidding process. In the coming week, I will be meeting with more than 50 prospective buyers, and will go through the various steps of identifying which of them are suitable investors. Only then will I be able to begin concrete purchase negotiations. Ultimately, the winner will be whoever tenders the most favorable bid – not the one who makes the most noise.
Certain parties with a stake in the matter have repeatedly claimed that I’ve set a 100 million EUR purchase price for the company. This is part of an ongoing disinformation campaign, I’m afraid. At no time have I named a specific figure. The purchase price to be paid for the enterprise will be determined in the course of negotiations with investors; it will not be fixed by me. Anyone who suggests otherwise is consciously attempting to deceive the public."
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