The Agen Commerical Court extended the restructuring process under French law (procédure de sauvegarde) that the French poplar and maritime pine plywood producer Xilofrance has been undergoing since 12 August 2011 by another six months. Several steps have been taken since the court-led proceedings began. The company switched from three to two shifts at the end of November 2011. Its workforce was also lowered from 110 to around 100. The company then intends to start running a single shift in February, thus laying off another 40 or so workers by the start of March. A number of steps to optimise processes are to be taken by mid-2012, with production increasing again thereafter.
Court extends restructuring proceedings for Xilofrance
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