Arjowiggins files receivership proceedings for some of its subsidiaries in France

摘要

In a highly deteriorated market environment and further to the termination by Fineska BV of the planned acquisition of its Graphic and Creative Papers businesses, Arjowiggins and the French companies Arjowiggins Papers and Arjowiggins Creative Papers planned to petition the Commercial Court of Nanterre to open a preventive Safeguard procedure (Sauvegarde) in their favour to protect their interests. Some of Arjowiggins' French subsidiaries will file a petition to open Receivership proceedings {Redressement judiciaire). The Pri-plak and Arjobex subsidiaries are unaffected by these procedures, according to information from Arjowiggins parent company Sequana.