Swiss company Newco goes under receivership
Swiss
trading company Newco, with several international offices allegedly had been losing money for a few years and since the possibility of sale to Noble was drooped a few years ago, the company has been abandoned by its parent Anglo American. Some offers from the banks to Anglo American in August for support in the form of parent guarantees were failed to be evaluated by the company.
At the moment the mill is in administrative receivership, SteelOrbis understands. The company deals with mainly carbon steel flat and long products as well as
semis.