Europe's only phosphorus firm Thermphos declared bankrupt
Wednesday 21 November 2012
Europe’s only phosphorus producer, Vlissingen-based Themphos, was declared bankrupt on Wednesday, with the possible loss of 450 jobs in Zeeland.
According to website nu.nl, the curators have asked most staff to remain on while talks continue with potential buyers. Some serious approaches have been made and the curators hope to finalise a deal by the end of the year, the website said.
The company, which applied for court protection from creditors in September, blames the difficult economy and unfair competition from Kazakhstan for its financial difficulties.
If no buyer is found, the government will have to pick up a massive bill to clean up radioactive waste, local media report.