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Swiss steel trading giant Carbofer General Trading files bankrupt
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It is reported that on May 16th 2012, the Swiss steel trader Carbofer General Trading, a private trading giant announced to file bankrupt due to the down market situations and tight credit conditions.
It is said that several major unfulfilled business transaction had failed the company over the past two years.
Before filing bankruptcy, its business has grown to US$3.0 billion in revenues in 2008 through an increase in volumes traded by 9.7 million tons.
Its Copenhagen based shipping branch Carbofer Maritime Trading was also filed bankrupt about a month earlier.
It is after an unfortunate attempt to recapitalize the company through the sale of a substantial stake to an Indian investor lain 2011.
News Date
6/17/2012 3:20:17 PM
reported by
Mike Lo
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