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Talks underway to save insolvent German cocoa grinder Euromar
December 20, 2016 / 12:42 PM / a year ago

Talks underway to save insolvent German cocoa grinder Euromar

HAMBURG, Dec 20 (Reuters) - Talks continue between creditors and other interested parties to save German cocoa grinder Euromar Commodities GmbH which declared insolvency earlier in December, a spokesman for its interim administrator said on Tuesday.

Negotiations are underway focusing on efforts to restart production, the spokesman for interim administrator Rolf Rattunde told Reuters.

Euromar is a major producer of cocoa products including cocoa butter and cocoa powder at its plant at Fehrbellin near Berlin.

The company had suffered liquidity problems caused by exchange rate fluctuations in the British pound, the currency cocoa is traded in, and swings in cocoa prices.

Rattunde has said he would attempt to restructure Euromar and return it to long-term operations.

Reporting by Michael Hogan, editing by Jane Merriman

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