PROFINE
Arcapita Bank owner of German profile producer files for Chapter 11 / Holdings not affected
Bahrain-based Arcapita Bank (Manama; www.arcapita.com) – which had acquired Germany’s HT Troplast holding in 2007 – on 19 March 2012 filed for Chapter 11 creditor protection in New York / USA. The company said it plans to restructure its finances.
The move reportedly does not affect the bank’s subsidiaries and shareholdings, which include window profile producer profine (Troisdorf / Germany; www.profine-group.de) – see Plasteurope.com of 21.08.2007. A spokesman for profine told Plasteurope.com the company was not affected, adding that it had no financing needs. He did add that the group’s principal bank was looking for solutions.
The move reportedly does not affect the bank’s subsidiaries and shareholdings, which include window profile producer profine (Troisdorf / Germany; www.profine-group.de) – see Plasteurope.com of 21.08.2007. A spokesman for profine told Plasteurope.com the company was not affected, adding that it had no financing needs. He did add that the group’s principal bank was looking for solutions.
21.03.2012 Plasteurope.com [221895-0]
Published on 21.03.2012
German version of this article...