AGRANA – Maize Starch Factory in Hörbranz (Vorarlberg Province)

Date: 27.12.2004

At the end of December 2004, AGRANA terminated the lease agreement with Mr. E. Deuring with effect from 30 June 2005.  The consequence of the lease termination will be the discontinuation of maize starch production at the Hörbranz site in the course of the first half of 2005.

The closure will affect 46 employees.  A hardship prevention plan is in preparation.

AGRANA took the company over from the Deuring family as a loss-making business in 2002.  Despite many and diverse remedial measures, positive and sustainable scenarios for the continuation of the business have failed to emerge.  Consequently, for economic reasons, closure is unavoidable.  The factory will record revenues of about € 5.9 million in the 2004/05 financial year.