19
Feb
00:00
Italy's Sidervasto looks to set up creditor plan, offload plants
The bankruptcy court in Vasto, Italy has allowed troubled steelmaker Sidervasto to enter the so-called ‘Concordato Preventivo’ procedure, union sources tell Kallanish. The procedure is a financial restructuring instrument through which the debtor can agree to a plan with creditors in order to avoid being declared bankrupt. Meanwhile the company is still looking to offload its two production units, the sources add.
The company’s two operatio…
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Anonymous
Very good overview of the weekly steel market.
Anonymous