Wed Oct 29, 2014 10:05am EDT
* Says Vapate Oy has sold all its unprofitable business related to pulp, paper and board industry solutions during years 2013 and 2014
* Board of directors of vapate oy has stated that liabilities of company are greater than its assets and company is no longer able to meet its obligations
* Loans of Vapate Oy mature in bankruptcy. Parent company has secured loans for financiers of company
* Negotiations with financiers have already begun on how to arrange securities of parent in such a way that group's continuing operations does not become endangered due to securities Source text for Eikon: Further company coverage: (gdynia.newsroom@thomsonreuters.com; +48 58 698 3920)
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BRIEF-Vaahto Group Vapate Oy unit files for bankruptcy
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