Production at the board mill in Roccavione is still down. PKarton has time until the end of January to present a restructuring plan and avoid bankruptcy.
Italian cartonboard manufacturer Pkarton has been given more time to find prospective investors and present a restructuring plan under the Italian preventive creditors' settlement (concordato preventivo) scheme . According to Roberto Chiodelli, the owner of the turnaround and investment company Special Situation Srl, which acquired PKarton from the investment company IKF Holding last July, the Court of Milan has accepted the company's request for the extension of the initial deadline and prolonged the observation period until 26 January.
Board production at PKarton's Roccavione mill has been standing idle since 20 June this year. The mill houses two board machines with an installed capacity of 120,000 tpy of recycled board, of which 20-30,000 t of greyboard and some 80-90,000 t of GD board.
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