07
Oct
15:13
South African pipe producer files for bankruptcy
South African pipe producer Robor Proprietary Limited has filed for bankruptcy after business was hit by South African economic stagnation, cheap China-origin imports, and delays in signing power supply agreements. So says media company Tiso Blackstar, which owns a 47.61% in Robor.
Robor’s fate was also sealed by insufficient volumes being produced, and an overhang of excess production capacity in South Africa after 2010. Moreover, the imposition by the US…
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