After suffering from what a company spokeswoman said were “the difficult market conditions of the last years”, Italian PVC rigid films producer Alfatherm (Venegono Superiore; www.alfatherm.it) in early September announced that it had signed a framework agreement with its financing banks for both debt restructuring and to secure additional credit facilities.

Scheduled to become fully effective in the coming months, the deal provides for a EUR 25m reduction in Alfatherm’s debts as well as a corresponding net equity increase. In addition, the Italian company – which specialises in the calendering of rigid, semi-rigid and flexible PVC film and sheets – will receive new credit facilities designed to further support its development.

Alfatherm operates three PVC manufacturing plants in Italy – in Venegono, Gorla and Gallarate, all located in the country’s Varese province. The group’s 440 employees last generated sales of about EUR 100m. Key applications for its film include the furniture, stationary, packaging and technical products markets. Alfatherm says about 50% of its output is exported.