SKW Stahl-Metallurgie has restructuring plan, discusses amending loan

By Angela McDaniels

Tacoma, Wash., Jan. 28 – SKW Stahl-Metallurgie Holding AG has developed a restructuring plan and is in discussions with its bank lenders about amending the terms of its loan, according to a company news release.

The supervisory board and the executive board are also engaged in discussions about additional measures for the further development of the company.

The company’s financial statements for 2015 are not yet complete, but its executive board believes a loss amounting to more than half its registered capital has occurred.

Among other factors, SKW Stahl-Metallurgie blamed impairment of some intercompany loans and asset values due to the slump in the steel industry.

The company is based in Unterneukirchen, Germany, and makes specialty chemicals for the steel industry.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.