Timminco Announces Further Extension of CCAA Stay Period
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 04/30/12 -- Timminco Limited and its wholly-owned subsidiary Becancour Silicon Inc. (collectively, the "Company") announced that, in connection with the proceedings commenced by the Company under the Companies' Creditors Arrangement Act on January 3, 2012 (the "CCAA Proceeding"), the Ontario Superior Court of Justice (Commercial List) (the "Court") has granted an order extending the CCAA stay of proceedings from April 30, 2012 to June 20, 2012.
The extension, of approximately eight weeks, provides additional time for the Company and the successful bidders of the Company's assets and business, including the transactions announced by the Company on April 26, 2012, to address the applicable closing conditions, including Court approval of such transactions.
Information about the CCAA Proceeding is available on the Monitor's website, at: .
About Timminco
The Company's silicon metal operations are carried on through Becancour Silicon, a wholly- owned subsidiary of Timminco. Becancour Silicon purchases silicon metal from Quebec Silicon, of which Becancour Silicon owns 51%, for resale to customers in the chemical (silicones), aluminum and electronics/solar industries. The Company's solar grade silicon operations are carried on through Timminco Solar, a division of Becancour Silicon. Prior to ceasing active production, Timminco Solar produced solar grade silicon, using its proprietary technology for purifying silicon metal, for customers in the solar photovoltaic energy industry.
SEDAR Filer Profile #00000838
Contacts:
Timminco Limited
Douglas A. Fastuca
Chief Executive Officer
(416) 364-5171
(416) 364-3451 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 30.04.2012 - 13:51 Uhr
Sprache: Deutsch
News-ID 140589
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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