23-Jan-2005, 01:08 PM
I found this article from the Times Online site.
quote:
Clock ticking as Herhof races for funds
Frank Fitzgibbon
HERHOF Environmental, the waste management recycling technology business acquired by Treasury Holdings in 2003 for €20m, has three weeks to secure fresh financing or face the prospect of losing valuable contracts in Italy, France, Belgium and the UK. It is also in danger of losing a large contract with SCA, a paper manufacturer based in Witzenhausen in Germany.
David Tyndall, the chief operations officer of Treasury, confirmed that several contracts are in danger following the appointment of a preliminary administrator to Herhof caused by “temporary liquidity congestion”.
“This company won’t go under unless people want it to,” said Tyndall. “Some of these Herhof contracts are worth €200m or €300m each and require oodles of money.”
One of the contracts at risk is the controversial Lancashire Leyland project, described as the biggest project of its type in Britain. Plans to build a controversial giant tip that will produce waste for incineration were approved in December, despite public protest.
The Times Online
quote:
Clock ticking as Herhof races for funds
Frank Fitzgibbon
HERHOF Environmental, the waste management recycling technology business acquired by Treasury Holdings in 2003 for €20m, has three weeks to secure fresh financing or face the prospect of losing valuable contracts in Italy, France, Belgium and the UK. It is also in danger of losing a large contract with SCA, a paper manufacturer based in Witzenhausen in Germany.
David Tyndall, the chief operations officer of Treasury, confirmed that several contracts are in danger following the appointment of a preliminary administrator to Herhof caused by “temporary liquidity congestion”.
“This company won’t go under unless people want it to,” said Tyndall. “Some of these Herhof contracts are worth €200m or €300m each and require oodles of money.”
One of the contracts at risk is the controversial Lancashire Leyland project, described as the biggest project of its type in Britain. Plans to build a controversial giant tip that will produce waste for incineration were approved in December, despite public protest.
The Times Online
Martin ~