Any last-ditch restructuring efforts to save financially strapped polymer producer Dioki (Zagreb / Croatia; www.dioki.hr) – see Plasteurope.com of 06.11.2012 – appear to be cancelled. According to various regional media reports, the company's creditor committee has refused to give its approval to any new restructuring plan. Consequently, the value of Dioki shares took a whopping 67% hit down to a little more than EUR 1 on the stock market in Zagreb in the first week of October. Thus the only avenue left open to the troubled company appears to be the one leading to the insolvency authorities.

Local media is reporting about 300 employees of the company have already been made redundant earlier this year in January. Now it looks as though the remaining 120 positions will soon be cut. The production facilities for ethylene and VCM as well as PE and PS have been mothballed for some time, with any prospects for a restart of operations looking extremely dim.