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Cinis Fertilizer AB ( (SE:CINIS) ) has issued an announcement.
Cinis Fertilizer AB has filed for bankruptcy with the Ångermanland District Court, alongside its wholly owned subsidiary Cinis Sweden AB, after failing to secure the liquidity injection needed to continue operations. Despite intensive but ultimately unsuccessful talks with stakeholders about temporary financing, the board concluded the company is insolvent; it has received indications of potential buyers interested in continuing the business in a new legal entity, leaving the future of the company’s production and its role in Sweden’s mineral fertilizer supply in the hands of the bankruptcy administrator.
More about Cinis Fertilizer AB
Cinis Fertilizer is a Swedish greentech company that produces environmentally friendly mineral fertilizer, specifically potassium sulfate (SOP), by recycling residual streams from battery, pulp and other industries. Using patented, energy-efficient technology that halves the energy consumption versus conventional methods and lowers the product’s carbon footprint, the company targets sustainable agriculture and is listed on the Nasdaq First North Growth Market in Stockholm.
Average Trading Volume: 447,736
Technical Sentiment Signal: Sell
Current Market Cap: SEK18.56M
Find detailed analytics on CINIS stock on TipRanks’ Stock Analysis page.