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Rettenmeier operation in Ramstein has caused its owners quite some headache in the past © Rettenmeier

Rettenmeier-sale off the table for now

Article by Hannes Plackner, translated by Robert Spannlang | 07.03.2014 - 09:12
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Rettenmeier operation in Ramstein has caused its owners quite some headache in the past © Rettenmeier

Contrary to expectations, the sale of Rettenmeier Holz, Wilburgstetten/DE, will not go ahead in the first quarter. Due to the "good financial results achieved last year" the creditor banks are no longer interested in a short-term sale of the company, Rettenmeier Executive Director Stephan Lang told Timber-Online. In 2013, the Group doubled its earnings before interest, taxes and amortization to € 26 million.

A sale was not ruled out for the future, yet the purchase price hurdle was increased significantly, Lang said. He did not give any hint as to the desired return on the sale. The financing is secured by the loan agreements in place up to the end of 2015. Lang considers it likely that an agreement with the banks concerning a longer-term financing can be reached in the next few weeks.