The District Court of Noord-Holland declared Crown Van Gelder B.V. Bankrupt. Crown Van Gelder is a producer of varios types of paper for specific applications, such as ice cream packaging, luxury shoppers and High Speed Inkjet printers. The company was forced to file for bankruptcy since she anticipated payment obligation could no longer be met.
details at: https://cvg.nl/en/news/press-release-dutch-district-court-declares-crown-van-gelder-bankrupt/
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On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada.[1] Currently, the preliminary determination is due no later than January 16, 2018. On August 29, 2017, the Department of Commerce (the Department) initiated a less-than-fair value (LTFV) investigation of imports of certain uncoated groundwood paper from Canada.[1] Currently, the preliminary determination is due no later than January 16, 2018. Therefore, pursuant to section 733(c)(1)(A) of the Act, we are postponing the deadline for the preliminary determination by 50 days (i.e., 190 days after the date on which the investigation was initiated). As a result, the Department will issue its preliminary determination no later than March 7, 2018. Click Read More below for additional information.
Resolute Forest Products Inc. reported net income for the quarter ended June 30 of $256 million, compared to net income of $268 million, in the same period in 2021. Sales were $1,058 million in the quarter, a decrease of $82 million from the year-ago period. Excluding special items, the company reported net income of $155 million, compared to net income of $300 million, in the second quarter of 2021. The company reported operating income of $217 million in the quarter, compared to $235 million in the first quarter. The $18 million variation mainly reflects higher shipments ($47 million) across all segments, more than offset by higher manufacturing costs ($55 million), mainly related to fiber ($25 million) and maintenance ($19 million) costs, as well as energy prices ($7 million).
Cascades Inc. is pleased to announce that it has entered into an agreement with an affiliate of funds managed by affiliates of Apollo Global Management, Inc. to sell its 57.6% equity interest in Reno De Medici S.p.A. for an all-cash price of €1.45 per share, corresponding to a total net cash consideration of approximately €315.3 million. The purchase price is not subject to adjustment, except in case of potential leakages of value to the seller, provided that RDM's 2020 dividend that was paid to the shareholders in May 2021 will not be considered a leakage. The selling price represents a 24% premium to RDM's 90-day volume weighted moving average share price, and a 6.9x multiple to RDM's last twelve months adjusted operating income before depreciation as of March 31, 2021. Upon closing of the recently announced acquisition of Eska Group, the RDM group operations will grow to nine mills and five specialized cutting and sheeting centers across Europe and the USA.