According to the notice, this is a consequence of the fact that Sniace is unable to fulfil the agreement with its creditors from 2015, which ended the bankruptcy proceedings opened in 2013.

Depending on the court decision on the request for liquidation an administrator will be appointed, who will then decide on the further steps.

It is currently not known how this development will affect the operation of LignoTech Ibérica.

 

REFS

Published on finance.yahoo.com

Borregaard ASA: Spanish lignin partner Sniace declares intention to apply for liquidation