ADVANSA INFORMATION NOTICE
Hamm, 3rd March 2023:
Following the announcement in October 2022 of an insolvency filing by ADVANSA Manufacturing GmbH located in Hamm, Germany (member of the ADVANSA Group), the responsible Insolvency Administrator, Mr Holger Rhode has agreed with the Creditors Committee to prepare the manufacturing plant for a closure scenario. This will lead in the coming months to the closure of the manufacturing facilities and subsequent liquidation of the company.
Despite many efforts, and while deeply saddening for all employees and stakeholders, it was unfortunately not possible to find a viable path forward which would allow further production and healthy operation of the ADVANSA Manufacturing GmbH.
It is expected that the production will continue in coming months under the supervision of the Administrator in order to consume raw material stocks and to be able to fulfill open and new orders to customers.
The winding down of production operations in Hamm Uentrop has no direct impact on the current business operations of the other ADVANSA Group companies, neither ADVANSA Marketing GmbH which will continue its operations as a supplier for all European and worldwide customers, nor the ADVANSA BV in the Netherlands, which owns the relevant IP and trademark rights. ADVANSA has prepared for this eventuality and has access to significant fibre production capacities in Indonesia together with its affiliated company APF (Asia Pacific Fibres), as well several ongoing manufacturing cooperations and technology agreements with OEM producers, in some cases dating back over 20 years to the time of DuPont.
ADVANSA Marketing GmbH will therefore continue its daily work and fulfill orders in the usual way especially for the fibre-fillings and nonwovens businesses. Customers in the paper industry will also be contacted by the company to discuss ongoing supply conditions.
With the support of our shareholders and the financing banks, the commitment of ADVANSA to innovation and marketing as well as to being a reliable business partner to our customers remains strong.