M&G Polymers files for Chapter 11 in US
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Italian PET producer Mossi & Ghisolfi Group’s (M&G) US subsidiary M&G Polymers USA made a filing for bankruptcy protection under Chapter 11 for its business activities in the US.
The filing reportedly includes $500 million to $1 billion in assets and $100 million to $500 million in liabilities.
For its Italian companies, the company previously filed for "concordato preventivo", which is aimed at enabling a debtor in financial difficulty to restructure its debts and operations in an attempt to continue its activities and pay its creditors back, in its home country, Italy last week.
The filing reportedly includes $500 million to $1 billion in assets and $100 million to $500 million in liabilities.
For its Italian companies, the company previously filed for "concordato preventivo", which is aimed at enabling a debtor in financial difficulty to restructure its debts and operations in an attempt to continue its activities and pay its creditors back, in its home country, Italy last week.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Middle East PP, PE outlook for 2025: A double whammy of low demand and new capacity additions
- China, SE Asia PE outlook for 2025: Oversupply dilemma deepens with new capacity surge
- Freight rates outlook for 2025: Another rocky year ahead after 2024 turmoil
- Türkiye PP, PE outlook for 2025: Q1 set for a firm footing, eyes on derivatives for a whole year
- Europe PVC outlook for 2025: Supply imbalance threatens price recovery targets
- India PP, PE outlook for 2025: Players eye brighter Q1 despite current bearishness
- Different pricing policies emerge in Europe’s PS, ABS markets in Dec
- Bearishness persists across China, SEA import PE markets as year-end nears
- PLAST EURASIA 2024: Shrinking margins emerge as a key topic among polymer players
- Lower parity, rising freight rates repel European polymer buyers from imports
