Industrias Auxiliares Faus Files for Bankruptcy

Valencia, Spain, April 6, 2012 -- Spanish laminate manufacturer Industrias Auxiliares Faus and associate company Andrés Faus filed for Chapter 11 bankruptcy Feb. 20 in Valencia.

Valencia lawyer Vicente Rodriguez Esparza was appointed as provisional administrator.

In a press release, Faus said it determined that in order to achieve a more favorable debt structure, it was necessary to renegotiate its current debt with the banks.

Faus said it continues business as usual during this process and plans to have this resolved this year.

Faus Group said it is financially stable and the reorganization will not affect its daily operations or its ability to service its customers in North America.

According to the EUWID story, creditors of the companies were notified to make claims for their receivables.

The Faus Group has a manufacturing facility in Calhoun, Ga.