Pro-Gest, a leading paper manufacturing group in Italy, announces the extension of the negotiated resolution procedure for the crisis [Composizione Negoziata della Crisi], which involves only the parent company Pro-Gest, confirming the group's and all stakeholders' commitment to the recovery process.
Over the next six months, work will continue to finalize the debt restructuring agreements. Giampaolo Provaggi, appointed as expert advisor during the CNC phase that began in January, will continue to oversee the entire negotiation process between the parties, which is well advanced and expected to be finalized in the coming months.
Pro-Gest is consistently maintaining operational continuity at all its locations, even in the current slow market, strengthening relationships with its employees, customers, suppliers, and credit institutions. This approach allows the group to operate in a protected environment, manage the asset sales transactions forecasted in the plan, and access credit.
The closing of the sale of the participation held in Scart Imballaggi Srl to Tri-Wall Italia Packaging Systems Srl was finalized in recent days as well as the assignment to Lincoln International Srl of the mandate for the sale of the Mantova paper mill.
