Avilon to face corporate restructuring
Finnish viscose fibre producer Avilon, a company of Neo Industrial, has received approval from its local district court for a corporate restructuring program. The company submitted the application on 7 September explaining that high raw material costs as well as a weakening fibre market had led to a critical liquidity situation. Avilon had temporarily stopped production of viscose fibres at its Valkeakoski mill in July this year for the same reasons. The company manufactures cellulose-based viscose fibre for the textile and fabric industries.