Bensberg, 9.01.2008. Girindus plans to separate from its production site in Halle-Künsebeck. The purpose of this decision made by Girindus AG’s Board with the approval of the Supervisory Board, is to eliminate the sustained period of losses and thereby secure the future of the Girindus Group. In parallel, these measures also will allow for refocusing of business activities. Girindus wants to concentrate more on oligonucleotides and will expand these activities, as planned, in Cincinnati (USA). The chemical synthesis activities in Cincinnati will equally be continued. Ongoing activities in the fine chemical trade area and the development work in the field of cosmetics will be continued in Germany.
The separation from the production site at Künsebeck will either occur through the shut down of the plant in the course of 2008 or through its short-term divestiture. Additionally, administration and sales departments, located in Bensberg near Cologne, are to be significantly streamlined. Contractual obligations relating to outstanding customer orders will be fulfilled by Girindus.

These measures will entail the loss of around 90 jobs at Girindus sites in Künsebeck and Bensberg, probably between mid and end of 2008. The works council at the Künsebeck site has been informed today of these plans. Also today, meetings of the workforce have taken place on both sites. Immediate negotiations will begin between management and the works council with the aim of finding socially acceptable solutions in relation to the imminent staff reductions. Among others, talks have to be entered on the organization of a social plan and on the coordination of interests as well as on the support for employees in finding new positions.

Girindus AG had already communicated in December 2007 an expected loss of approximately 14 million euros for 2007. The majority shareholder Solvay therefore had granted a financial contribution in a comparable amount in form of a partial waiver on outstanding loans. In the 6 month report published on 31.08.2007 Girindus AG had also informed of cancellations and postponements of major client projects and the unsatisfactory utilization of production capacities. Developments such as these necessitated the decision for the measures now planned.

Contact:
Ralf Penner
Investor Relations
Girindus AG, 51402 Bensberg
T: +49 – (0)2204 – 926 - 900
F: +49 – (0)2204 – 926 - 990
rpenner@girindus.com

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