Gelsenkirchen, 26 June 2009. The Executive Board of Masterflex AG was today informed that the decision by the banks on the negotiations conducted to date to prolong the Company's financing, which was originally scheduled to be made by 30 June 2009, will now be made by 10 July 2009.
The decision by the banks - as is normal practice in such situations - is subject to board and syndicate approval, i.e. all the banks involved must approve the decision. While most of the banks' boards have already agreed to prolong the terms of loans until 30 June 2010, one bank was not able to make an internal decision on account of scheduling reasons. All the banks have approved the necessary postponement to 10 July 2009.
The measures to shore up liquidity are an important element in Masterflex AG successfully continuing its restructuring with a systematic focus on profitable core business.