Sep 16, 2013. /Lesprom Network/. The Board of Directors of Sniace, S.A. has unanimously agreed to request the Commercial Court of Madrid to grant the declaration of bankruptcy of Sniace, S.A, after it has reached the conviction that it is not feasible to reach an agreement or to obtain new financial support after having filed the communication – ruled in article 5 bis of the Creditors Meeting Law (Ley Concursal 22/2003, de 9 de Julio), related to the Pre-Bankruptcy, last June 26th and in the three months following said date. 

Likewise, the respective Boards of Directors of the branch companies, VISCOCEL, S.L.U and CELLTECH, S.L.U. have passed and adopted the same decision to file the request to the Commercial Court of Madrid to grant the declaration of bankruptcy.

Grupo Sniace is a chemical industrial group active in the pulp, viscose, renewable energies and biofuels markets.