The supplier of solutions to renewable gas producers, Xebec Adsorption, announced on Wednesday that it had taken shelter from its creditors in an attempt to recover financially.
The company said it had applied for an initial order with the Superior Court of Quebec under the Companies’ Creditors Arrangement Act.
Xebec Adsorption thus hopes to obtain recognition of the initial order in the United States, which would allow it to suspend the proceedings and claims of creditors. The objective is to implement recovery measures and a restructuring process, allowing it to avoid bankruptcy.
The company has nine manufacturing plants, 17 technology service centers and five sales offices on four continents.
