Potential buyer for Durobor withdraws

  

A buyer candidate who came forward last week to acquire the Durobor tableware glassmaking site has withdrawn.

The candidate was a European manufacturer active in the glass sector who had expressed an interest in acquiring the stricken Belgian glass tableware maker.

But Sogepa, the financial arm of the Wallonia district in which Durobor is based, said: “The European manufacturer has not obtained the necessary funding to ensure the sustainable development of the company.

 “It confirmed to Sogepa and the curators that the four investment funds it had approached refused to support it in this project."

In addition to the funding, this candidate did not fall within the guidelines set by Sogepa.

"At most, this industrial actor proposed a temporary lease associated with conditions that were legally impossible to meet under Belgian law. 

“The development that was proposed was not associated with any sustainable perspective and also encountered various obstacles, in particular relating to the rights of workers, the regulations on the operating permit, the assumption of risks and costs related to stopping the furnace.”

Sogepa will now resume the operation of the furnace shutdown at the Durobor plant based at Soignies, near Mons.

Sogepa will now resume the shutdown of the furnace using a procedure that makes it possible in principle to restart the furnace if a successful bidder submits a firm takeover bid.

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