Reni Resumed Production at a Further Reduced Level on 30 October 2012

Following an almost two-week production stop, the Italian plywood manufacturer Reni Ettore, which has run into financial difficulties, resumed production at a further reduced level on 30 October 2012. Sources close to the company report that Reni has been able to reach agreement with various suppliers to the effect that raw-material supplies have been safeguarded for the current level of production of roughly 150 to 180 m3/day until approximately mid-December. According to unconfirmed information, the company is also negotiating with a potential investor in order to facilitate a longer-term solution to its difficulties. That information also indicates that a decision is to be made before the end of this year on the future of the company. Source: euwid-wood-products