Court approves Durango financial restructuring plan

By Caroline Salls

Pittsburgh, Feb. 8 - Corporacion Durango SA de CV said the First District Court of the City of Durango, Mexico approved its plan of financial restructuring.

The company decided on May 18, 2004 to submit its plan of restructuring to the new legislature of Concurso Mercantil of Mexico, which the company considered the best vehicle to extend the plan to those minority creditors that weren't incorporated in the general agreement.

The Mexican paper manufacturer said this restructuring will allow it compete on an international level and to continue its plans of growth and expansion.

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