Petroplus Holdings AG (SIX: PPHN) today announced that Petroplus held meetings with all lenders under the Revolving Credit Facility yesterday in Zurich. The discussions were open and constructive. Additional discussions between the lenders and the Company’s management will continue over the comings days in an effort to restore availability of credit facilities that ensure proper operations of its refineries.

In the meantime, the Company will start temporary economic shutdowns of the Petit Couronne, Antwerp and Cressier refineries in January 2012 given limited credit availability and the economic climate in Europe. The restart of the refineries is dependent on economic conditions and credit availability. The Company intends to provide further updates to the market as needed via press releases.

To see the Petroplus refineries sites:
Raffinerie de Petit-Couronne en France
Raffinerie d'Anvers en Belgique
Raffinerie de Coryton en Grande Bretagne
Raffinerie d'Ingolstadt en Allemagne
Raffinerie de Cressier en Suisse