Spun-off Arkema unit begins bankruptcy proceedings

Newswire

LYON, March 27 (Reuters) - A French commercial court on Wednesday opened bankruptcy proceedings for unprofitable chemicals-maker Kem One, which was spun off from France's Arkema in July and which employs 1,300 people, the court said. Kem One owner Gary Klesch, who submitted the insolvency request, said the vinyl specialist's management team was determined to keep the business afloat with help from Arkema, chief supplier Total and the French government. France ...

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