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M&G Polymers files for Chapter 11 in US

by ChemOrbis Editorial Team -
  • 25/10/2017 (11:06)
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.
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