Solombalsk Cellulose Declares Bankruptcy
Print this Article | Send to Colleague
According to a release this past week by the Russian Arbitration Court of the Arkhangelsk Region, Solombalsk Cellulose and Paper Plant OJSC has declared bankruptcy. This begins a period of open receivership proceedings that will continue for six months from the effective date of August 27.
Earlier this year, on January 20, Solombalsk LDK, the Solombalsk (Arkhangelsk, Russia) division overseeing chemical and wood processing filed for bankruptcy. Other Solombalsk companies such as Solombalsk Machine-Building Works, a notable supplier for European paper mills, has not entered any type of receivership and for the time being is expected to remain fully operational to fill any and all orders.
