 |
 |
E-News Update November 2010 |
LEAD FEATURE |
COMPANY NEWS |
MATERIALS NEWS |
MACHINERY NEWS |
EXHIBITION NEWS |
RUBBER JOURNAL ASIA |
INJECTION MOULDING ASIA |
Machinery News
Gloucester looks to a brighter future
U
S-based extrusion machine maker Gloucester Engineering is targeting to exit from bankruptcy at the year end, given that it has won approval of its disclosure statement in support of its plan of reorganisation. Its European subsidiary emerged from bankruptcy recently.The disclosure statement describes the company's proposed plan of reorganisation and contains information regarding the debtor and its business. It also allows creditors to vote upon the plan. Once the plan has been approved, private equity firm Blue Capital Partners, through its Blue Wolf Capital Fund II, will own 95% of Gloucester with the remaining 5% to be held by a group of unsecured creditors or so-called critical vendors.