Croatia: Croatian building materials producer Nexe Grupa has submitted a motion for the opening of a pre-bankruptcy settlement procedure. The company also said in a bourse filing that its affiliates Nasicement, Dilj, Luka Tranzit, Igma and Nexe Beton have likewise filed for pre-bankruptcy settlement before the competent authorities.
By setting the bankruptcy procedure in motion, Nexe Grupa wishes to accelerate the financial and operational restructuring of the company, having in mind the large number of creditors involved, the company said in a separate statement.
Nexe Grupa comprises around 20 companies operating in Croatia, Bosnia, Serbia and Montenegro. It runs the Nasicecement cement plant in Nasice with a cement production capacity of 1Mt/yr.
