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A fresh start for Officine Maccaferri Spa: the company was admitted to the in court-supervised composition with creditors

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On October 5th, the Court of Bologna announced the formal opening of the composition with creditors, thus deeming both the plan and the proposal to creditors eligible, thereby initiating a new phase for Officine Maccaferri SpA.

The opening of the composition with creditors is a vital step in the renewal process we are undertaking, whose main objective is to refocus on developing our business, on the know-how that has enabled us to become a global leader in the industry and on our people.

The agreement plan is based on a €60-million capital injection, which will be disbursed by Ad Hoc Group at the time of approval.

This important milestone, which we have achieved thanks to the joint efforts of our management and workers, will be followed – on February 16th – by the creditors’ hearing, whose favourable vote will be necessary for the desired approval of the arrangement.

Sergio Iasi, Our Chief Restructuring Officer, confirmed that “the process has accelerated considerably: the company is positively positioned and I am confident that all the company’s managers will actively work together to bring the agreement with creditors forward.”

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