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Article: Rapid Granulator reorganizing.(News)

Article from:
Plastics News
Article date:
November 2, 2009
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Rapid Granulator AB has filed for financial restructuring, according to news reports in Sweden. The company blamed slumping machinery sales and the cost of a recent acquisition of a recycling equipment maker in China.

Bredaryd-based Rapid Granulator has U.S. operations in Franklin, Pa.

The company will lose 20 million Swedish kronor ($2.87 million) this year, according to a report in the Varnamo (Sweden) Nyheter newspaper, which quoted from a letter from CEO Rolf Gren.

The letter reportedly emphasizes that Rapid has not filed for bankruptcy, and that it will continue with business as usual. The firm plans to reduce debt voluntarily, in ...

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