German panel maker Hornitex Werke is continuing to trade almost three months after calling in the German equivalent of receivers.
The Bad Meinberg-based manufacturer, which filed for bankruptcy protection in June to stave off pressure from creditors, is still producing particleboard and fibreboard but is expected to shortly announce a shake-up of its production facilities.
Hornitex, which is owned by the founding Kunnemeyer family, has two MDF lines, five particleboard lines and a semi-dry fibreboard line, located at Horn-Bad Meinberg, Nidda, Beeskow and Duisberg.
Hornitex has not commented on the reasons for its filing for bankruptcy protection or whether a US$46m investment in a power station at Horn could have prompted the move.
