Haydale Graphene ( (GB:HAYD) ) has provided an announcement.
Haydale Graphene Industries PLC has initiated a corporate insolvency process for its US subsidiary, Haydale Ceramic Technologies LLC, under Chapter 11 subchapter V of the US Bankruptcy Code, aiming to sell its assets through a court-supervised public auction. This strategic move is part of Haydale’s broader effort to reduce operational complexity and costs, enhancing profitability and cash flow by divesting underperforming US operations. The company expects to remain in Chapter 11 for up to 90 days, during which HCT will continue operations with sufficient working capital. Following this and other recent divestments, Haydale will focus on its UK-based nanomaterials business.
More about Haydale Graphene
Haydale Graphene Industries PLC operates in the advanced materials industry, focusing on the integration of graphene and other nanomaterials into industrial materials and technologies. The company has strategically repositioned its US operations towards the manufacture and distribution of advanced cutting tools, with a market focus on sectors such as aerospace and automotive.
YTD Price Performance: -12.88%
Average Trading Volume: 10,621,838
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £4.32M
For an in-depth examination of HAYD stock, go to TipRanks’ Stock Analysis page.