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Graphite junior Valence in administration

18th July 2016

By: Mariaan Webb

Creamer Media Contract Publishing Editor

  

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JOHANNESBURG (miningweekly.com) – Graphite junior Valence Industries has gone into administration.

The ASX-listed company announced on Monday that Laurie Fitzgerald and Michael Humphris of William Buck had been appointed administrators, effective from July 15.

Valence, a vertically integrated manufacturer of specialist graphite products, suspended operations at its South Australia-based Uley plant in December, citing a tough financial situation.

Under the leadership of a new MD and CEO, Robert Mencel, the company in March this year announced a financing plan, aimed at addressing its balance sheet.

Edited by Creamer Media Reporter

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