September 30, 2016 / 1:37 AM / a year ago

Fushun says creditors seek bankruptcy restructuring for Dongbei Special Steel

SHANGHAI, Sept 30 (Reuters) - Fushun Special Steel on Friday said a court is reviewing an application from creditors for a bankruptcy restructuring of parent company Dongbei Special Steel.

Fushun Special Steel also said its operations and capital flows were normal, according to a statement published on the Shanghai stock exchange website. Dongbei Special Steel owns 35.22 percent of Fushun.

Dongbei Special Steel has ironed out a business revival plan, aiming to return to profit and slash its leverage ratio in three years' time, media reported earlier this week. (Reporting by Shanghai Newsroom; Editing by Stephen Coates)

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