HOME FOR CUSTOMERS FOR INVESTORS ABOUT DUROC ABOUT DUROC History Press releases Subscribe plug Contact form Cookies on the website Press release 2016-06-15 19:00 Duroc Special Steel AB is applying for a corporate reorganization Duroc AB's wholly owned group subsidiary Duroc Special Steel AB, hereinafter DSS, has today, 15 June 2016, applied for corporate reorganization at Luleå District Court. DSS conducts cold rolling, hardening and wear of sheet metal, as well as a logistics center for steel strip reels. The operations are conducted from leased premises in Luleå. The background to the application is that DSS has profitability problems in its business for processing sheet metal, and that business is being discontinued as previously announced. During the spring, however, DSS suffered from operational disruptions attributable to the leased premises, which made deliveries more difficult. Pending that this issue is resolved with the landlord, and that the DSS investigation into claims for insurance compensation for previous engine breakdowns in the rolling mill is completed, the conditions for continued operation are unclear, and DSS cannot independently pay its debts at the rate they fall due. The intention is to enter into negotiations with the landlord and insurance company during the reconstruction, and possibly reach an agreement with the company's creditors. The crisis in DSS leads to Duroc AB writing down the value of the shares in DSS from five million to zero, and that internal receivables of SEK 11.5 million secured by over-mortgages in the company's operations are reduced to zero by reservation. Apart from the commitment of a bridge loan of SEK 1 million for the reconstruction period, no liquidity impact on Duroc AB is expected. Duroc AB John Häger For further information John Häger, CEO Duroc, 08-789 11 30 The information is such that Duroc AB (publ) is obliged to publish in accordance with the Swedish Securities Market Act and / or the Swedish Financial Instruments Trading Act. The information was submitted for publication on June 15, 2016 at 7:00 p.m. The Duroc Group manages and develops industrial and trading companies. With deep knowledge of technology and the market, the Group's companies aim for a leading position in their respective industries. As an owner, Duroc actively contributes to the development. Duroc is listed on NASDAQ OMX Stockholm. www.duroc.com Press release (PDF) Print Tip a friend MORE PRESS RELEASES 2016-07-15 07:15 Interim report January-June 2016 2016-06-15 19:00 Duroc Special Steel AB is applying for a corporate reorganization 2016-04-27 19:30 Communiqué from Duroc's Annual General Meeting 2016 2016-04-22 07:15 Interim report January-March 2016 2016-04-07 14:00 John Häger new CEO of Duroc AB 2016-03-23 08:00 The Nomination Committee's proposal to the Board of Duroc AB (publ) 2016-03-23 08:00 Notice of Annual General Meeting of Duroc AB (publ) 2016-03-17 17:45 Duroc appoints acting CEO Duroc Laser Coating AB Duroc Rail AB Duroc Machine Tool AB Duroc Machine Tool Denmark Duroc Machine Tool AS Duroc Machine Tool Oy Duroc Machine Tool OÜ Duroc Machine Tool SIA DUROC AB (publ), Box 612, 182 16 Danderyd. Visit: Berga Backe 4. Tel: 08-789 11 30. Fax: 08-789 11 31. E-mail: info@duroc.com | About cookies