RIGA – Turkish-capital company Liepaja Steel has abandoned the plan to relaunch a metallurgical enterprise in Liepaja and will take the steel melting furnace it bought three years ago to Turkey, Latvian Television (LTV) reported on Monday. According to the LTV report, the company makes no secret of its disappointment over a failure to reach…
Extrusion blow molding equipment company Kautex Maschinenbau GmbH has declared the production site at its headquarters in Bonn, Germany to be insolvent as of Aug. 25, 2023, according to a press release posted on its website. The declaration does not affect the companys operation in Shunde, China. Kautex also said that development of the Bonn site…
Hurricane Idalia is making its way to Florida with an expected landfall tomorrow morning. And with hurricanes, comes property damage and insurance claims. The states property insurance market took a huge hit last hurricane season. Mark Friedlander, with The Insurance Information Institute, said there are new changes that homeowners should pay attention to. Listen to…
Persistent inflation and high raw materials prices have pushed construction sector insolvencies up 16.5% higher than last year, prompting firms to seek ways to stall their payments. In the 12 months to June 2023, 4,280 construction companies in the UK went out of business 16.5% more than the previous year, according to the governments Insolvency…
(Image credit: Baikal Electronics) T-Platforms, the parent company of Russian chipmaker Baikal Electronics, has declared bankruptcy and is auctioning off its assets, including intellectual property related to Baikal processors, one of a few designers of CPUs and system-on-chips from Russia, reports CNews. According to Kommersant, the total value of these assets is estimated at $5 million.…
Boutique restructuring consultancy Cathro & Partners has appointed Mark Cook as a director. Founded in 2021 by industry expert Simon Cathro, Cathro & Partners specialises in restructuring, turnaround, personal and corporate insolvency, safe harbour, secured enforcement services, government advisory services and pre-lending services. The addition of Mark Cook bolsters the firms senior team, with Cook bringing…
RIGA – Turkish-capital company Liepaja Steel has abandoned the plan to relaunch a metallurgical enterprise in Liepaja and will take the steel melting furnace it bought three years ago to Turkey, Latvian Television (LTV) reported on Monday. According to the LTV report, the company makes no secret of its disappointment over a failure to reach…
The company said it has not been able to agree on the start of industrial activity with the Liepaja City Council and the Special Economic Zone (SEZ) administration. Meanwhile the municipal authorities in Liepaja will keep to their plan to create an eco-friendly industrial park on the sprawling territory of the former “Liepajas metalurgs” plant, which was…
President William Ruto on Monday ordered all persons currently at Mumias Sugar Company to vacate and withdraw all court cases pertaining to it. We are ordering all to vacate the premises, that company belongs to the people. We shall make new plans for it and not entertain any court cases, they must withdraw them all.…
German operations of Kautex Maschinenbau GmbH, an extrusion blow mold machinery maker, is insolvent due to what the company calls “a multitude of exogenous factors.” While the Bonn, Germany, production site is looking for new investors, the company’s location in Shunde, China, is not impacted by the company’s move, the company said. Kautex, in revealing…