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Changes in the Executive Management of SiC Processing GmbH

Both, the founder and co-owner, Thomas Heckmann, and Dirk Müller will continue working for the company and its ongoing operations. They will further support the restructuring as authorised signatories as much as possible. Their contracts were extended for this purpose until the end of 2015 and the beginning of the 2016, respectively. Following the proposal by the Chairman of the Advisory Board, Peter Thysell was appointed as the Sole Manager and Chief Restructuring Officer (CRO) of SiC Processing GmbH with immediate effect. Until October 2012, Peter Thysell was the Chief Financial Officer (CFO) of a listed Swedish raw materials company. He also has extensive experience as CFO of various other companies in the telecommunications sector as well as from his previous position at a large consulting firm. Furthermore Peter Thysell has worked in the past on several successful corporate and financial restructurings. With the changes in the executive management of SiC Processing GmbH, Dr. Sönke Bästlein also resigned from his position as member and Chairman of the Advisory Board. Hans Eckerström is replacing Dr. Bästlein as member and Chairman of the Advisory Board. Like his predecessor, Hans Eckerström has been appointed to the advisory board by Cidron Silicon Two S.à r.l., the majority shareholder of SiC Processing. SiC Processing is the leading provider for the recovery of used slurry from the photovoltaic and the semiconductor industry. With 755 employees worldwide (as of end October 2012) the group is located in 5 countries all over the world with production sites in Germany, China and USA and a sales office in Italy. Production sites in Norway were closed down mid 2012. The founder family holds a 25 % stake beside the majority shareholder Nordic Capital Fund VII. (11/2012)


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