ADVANSA Group announces closing of acquisition

| Business function | Advansa | Hamm | Germany

Following the acquisition concluded at the end of January with Sverige Netherlands B.V. – an investment holding company which is affiliated with the major shareholders of PT Asia Pacific Fibers Tbk. (APF) - the closing of the transaction has been legally completed. Today was the completion of the acquisition.

For ADVANSA, this sale signifies a long term and enduring continuation of the polyester production.

The closing is related to the relevant companies of the ADVANSA Group (ADVANSA Marketing GmbH, ADVANSA IT Service GmbH, ADVANSA Logistik und Dienstleistungsgesellschaft mbH, ADVANSA BV and Bergers Technik und Maschinenbau GmbH), as well as the start of business operations of the new production company ADVANSA Manufacturing GmbH.

It also marks the beginning of the cooperation between ADVANSA and APF with the advantages of being a leading integrated global polyester company.

The former ADVANSA GmbH will remain as a liquidation company under the responsibility of the insolvency administrator Achim Thiele of Husemann Eickhoff Salmen & Partner, Dortmund.