Avilon's corporate restructuring application accepted

Oct 07, 2011. /Lesprom Network/. Finnish viscose fiber producer Avilon Ltd, part of Neo Industrial's Viscose Fibers business, has been accepted by its local district court for a corporate restructuring program, as the company said in a press release received by Lesprom Network. Avilon submitted the application on 7 September, 2011 due to its critical liquidity situation. Exceptionally volatile raw material as well as viscose fiber markets have lead to the company's difficulties. “We have faith in our long-term prospects, and trust that we will get back to profitable business in reasonable time. Being accepted for the restructuring shows that others too have trust in us,” says Avilon's Managing Director Heikki Hassi.