Brazil: Bag producers Cocelpa Companhia de Celulose e Papel do Paraná (Cocelpa) and Arpeco Artefatos de Papéis have both filed for bankruptcy protection. They cited rising production costs, the country’s economic crisis and an unsuccessful sale plan, according to the Valor Economico newspaper. The companies operate plants at Curitiba and Araucária and they mainly produce bags for the cement industry. Despite being market rivals the two companies have filed for protection together due to structural links between them.
Brazilian cement bag producers file for bankruptcy protection
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