Troubled industrial holding group High Tech Industries (HTI, Neudörfl / Austria; www.hti-ag.at), which has been seeking a capital injection to ensure its survival in the economic crisis (see Plasteurope.com of 08.05.2009), is believed to have reached last-minute agreement on a new financing arrangement with a group of banks headed by Raiffeisen-Landesbank Oberösterreich. The deal is subject to approval by the banks involved. HTI CEO Peter Glatzmeier expects the agreement to be completed by 3 June 2009. In the light of these negotiations, HTI has again postponed publication of its annual results from May 28 to June 22. The original publication date was 28 April.

HTI also said that Thomas Vondrak, a deputy member of its management board, will resign from his post and give up all his other functions in group companies on 31 August 2009. Vondrak was responsible for plastics processing and also headed group company HTP High Tech Plastics. His contract originally ran to the end of 2011. The board of management function will not be replaced. The new managing director of HTP will be Josef Hackl, currently head of HTP Slovakia Vráble (Vráble / Slovakia).