A buyer emerges for Spanish fibre manufacturer - sportstextiles: Lea SportsTextiles

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A buyer emerges for Spanish fibre manufacturer

02/05/2014
One of Spain’s few remaining fibre manufacturers, Montefibre Hispania, will emerge from administration after the parent group of polyamide 6.6 producer Nylstar, Praedium, moved to acquire the company. This means production will begin again at the Montefibre Hispania factory in Miranda de Ebro, in the province of Burgos.

Montefibre Hispania went into administration in August 2013, owing a reported  €30 million to suppliers and to its bankers. Reports in local paper El Diario de Burgos now say Praedium has begun negotiations with the creditors and that it is hopeful of reaching an agreement on debt-reduction, allowing the company to come out of administration, by July.

The same reports say Praedium aims to start production again in Miranda de Ebro by September and that it is already working with the local management team to reach out to former clients and to carry out maintenance work on the plant.




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