TQ-Group is majority shareholder of SRI Group

Since 26.09.2012 the management handles the business under self administration. The previous preliminary administrator Mr Dr. Thomas Karg was appointed as administrator by court. This was among others also confirmed during the creditor meeting on 12.12.12. The insolvency plan is following a restructuring concept and is based on the utilization of specific insolvency rights for the fiscal stabilization and improvement of the company as well as the admission of new partners associated with an increase in capital. During the last weeks the management had talks with a lot of potential investors. After final validation in particular seen from the angle of the satisfaction of our creditors the negotiations could be concluded with the TQ-group as strategic investor. The agreement about the acceptance of the insolvency plan should happen during the next creditor meeting until beginning of February 2013. The creditor protection procedure is based on the maintaining of the company and the recovery of the profitability. The self administration within the insolvency code makes sure that a coordinated restructuring of the companies within a group is possible with a consistent management.