07 August 2010
07 August 2010
In accordance with the Bankruptcy and Insolvency Act, the restructuring proposals filed on July 16, 2010 by Sigma and its subsidiaries Rene Composite Materials Ltd. and Transcam Composites Inc. have received the approval of its creditors.
They were also ratified by the Superior Court of Québec, which, at the same time, gave the company permission to reorganize, according to Article 191 of the Canada Business Corporations Act.
A private investment will be undertaken by Consolidated Composites Industries (CCI) Inc., a corporation related to Sigma, whose senior executives, Denis Bertrand, Jean-Francois Doré and Bruno Doyon, are directors and shareholders.
""We would like to sincerely thank our suppliers, employees and financial partners for the unflagging support they have given to Sigma during these difficult times. This agreement will allow Sigma and its subsidiaries look to the future with renewed confidence,"" said Denis Bertrand, President and CEO of Sigma Industries.
Sigma Industries has five operating subsidiaries and employs 350 people, and is active in the heavy-duty truck, coach, transit and bus, train and subway, machinery, agriculture, light forestry, and wind energy market segments.
Sumitomo Chemical reports that its polyethersulfone (PES) micro-powder additive SumikaExcel 5003P boosts fracture toughness and resistance to micro-cracking for fibre reinforced epoxy composites over a broad temperature range without negatively impacting dimensional stability, flame/smoke/toxicity (FST), creep resistance, modulus, impact, or yield strength.
Renault, Webasto, ARRK-Shapers and Polyscope Polymers won the People’s Choice award for the most innovative composite part at the 18th annual Automotive Composites Conference & Exhibition (ACCE) sponsored by the Society of Plastics Engineers (SPE).
ZSK will hold its bi-annual technology showcase on 21-22 September 2018 at its Krefeld, Germany, headquarters. The Embroidery Technology Show assembles more than 25 exhibitors from around the world to discuss emerging trends in the embroidery manufacturing industry and demonstrate the latest products produced using techniques such as tailored fibre placement (TFP) or smart textiles.