German specialty textile chemical maker DyStar will be likely to be closed down due to the lack of investors who are interested in rescuring the company.
The preliminary insolvency administration of DyStar Textilfarben GmbH & Co. Deutschland KG today announced that all employees at the DyStar locations Frankfurt am Main, Leverkusen, Geretsried and Brunsbüttel will be released from work as from Dec 1st, except that the Ludwigshafen plant where the production process for indigo remains open.
"I’m sorry to say that there is no definite investor commitment at the moment", explained the preliminary administrator Dr Stephan Laubereau. "However, the search for a suitable investor continues in December."
