February 14, 2020 / 6:22 AM / 11 days ago

BRIEF-Sniace To File For Liquidation

Feb 14 (Reuters) - Sniace:

* SAID ON THURSDAY THAT THE BOARD HAD AGREED TO FILE FOR LIQUIDATION OF SNIACE AND ITS UNITS CELLTECH SLU AND VISCOCEL SLU

* SAID IT WAS IMPOSSIBLE TO MEET THE PAYMENT COMMITMENTS ARISING FROM THE AGREEMENT WITH CREDITORS, APPROVED BY THE COURT ON SEPTEMBER 23, 2015

* SAID THE PRICES OF CELLULOSE, VISCOSE FIBER, ELECTRICITY, TERMINATION OF CONTRACT WITH COGEN DISCOURAGED POTENTIAL INVESTORS

Source text: bit.ly/2u04ccc

Further company coverage: (Gdansk Newsroom)

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