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Six mills of Estar Holding file for bankruptcy

Steel News - Published on Fri, 12 Jun 2009

It is reported that Russian Estar Holding announced that 6 mills under its group have filed for bankruptcy.

The debt of the group is said to increase to USD 1 billion in the end of May. Those six mills are Nytva, Novosibirsky, Zlatoust, Gurievsky, Engelsk pipe mill and Volgograd which manufactures small diameter pipes.

As per report, the bankruptcy filing will allow the company to renegotiate with its loaners and thus the company might restart its six plants in July.

(Sourced from Steel Orbis)

Posted By : admin on Fri, 12 Jun 2009
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