BRUSSELS , Dec. 13, 2012 (RISI) -
Kraft paper manufacturer Somes Dej has filed for insolvency with a court in Cluj, Romania, with the intention of reorganizing the company. The board of Somes Dej made this decision on December 3, according to a filing on the Bucharest Stock Exchange website. The statement did not explain why it had decided to file for insolvency.
Somes Dej is part of the SCR Group, controlled by the businessman Ştefan Vuza. Shares in the company are traded on the "unlisted" section of the Bucharest Stock Exchange, a section for companies that do not meet the requirements to be listed, a representative for the stock exchange explained.
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