SiC Processing GmbH / Key word(s): Miscellaneous

10.12.2012 / 15:45

---------------------------------------------------------------------
Hirschau, December 10, 2012 - The management board of SiC Processing AS, the subsidiary of SiC Processing GmbH in Norway, has resolved today to petition for insolvency at the district court in Porsgrunn / Norway.
As announced on August 16, its only customer REC Wafer Norway AS has filed for insolvency in summer of this year. Subsequently, SiC Processing AS has started a solvent winding-up procedure with the consent of its major creditors. Selected creditors have now decided to not maintain their consent, which is required for a solvent winding-up.
Financial consequences for SiC Processing GmbH, its creditors or creditors of its other subsidiaries beyond the cases mentioned in the ad-hoc announcement of 16 August 2012 are currently not foreseen.
Please register at our website 
http://www.sic-processing.com/index.php/Newsletter.html to automatically receive the latest news of SiC Processing group.
SiC Processing GmbH
SiC Processing GmbH is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industry. With 755 employees worldwide (as of end October 2012) the group is located in 5 countries all over the world with production sites in Germany, China and US and a sales office in Italy. Production sites in Norway were closed down mid 2012. The founder family holds a 25% stake beside the majority shareholder Nordic Capital Fund VII.


Press Contact:
Markus Kreuzer
Head of Marketing and Communications
Phone: 0049 (0) 9622 - 70 39 273       
E-Mail: markus.kreuzer@sic-processing.de


End of Corporate News

---------------------------------------------------------------------
10.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------

196508 10.12.2012