12
May
14:19
Afarak puts South Africa unit into business rescue
Finnish-headquartered Afarak Group has placed its financially-distressed South African ferroalloys business into voluntary business rescue. The board of directors says there is a reasonable prospect of rescuing the business.
The South African business will continue operating during the business rescue and furnace P1 is expected to be back in production as of mid-May.
Last week Afarak announced its plan to file for the business rescue. It said that durin…
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