The Law Court of Milan/Italy admitted the company Coes S.p.A. in liquidation!

On March 21th, 2012, we received the following information from the Controlling Judge of the proceedings of Concordato Preventivo of the company Coes S.p.A. in liq.:

“As prescribed for by Art. 171 2° paragraph, IBL, we are informing that, in force of writ issued on February 2 2012, filed on February 24 2012, the Law Court of Milan admitted the company Coes S.p.A. in liquidation, …, to the procedure of “Concodato Preventivo”, appointing Mr. Fernando Ciampi as the Controlling Judge of the procedure and Messrs Luigi Carlo Ravarini, Marco Bettini and Luisa Primatesta as Official Receivers.”

Coes offered the following products and brands:

  • Coesklima Superk® System (press fitting with PEX/Al/PEX, PE-Xb/Al/PE-Xb and PE-Xb/Al/HDPE multilayer pipes)
  • Coesklima (PEX/Al/PEX multilayer pipes)
  • Coesklima® gas (PE-Xb/Al/PE-HD piping system with K-Fit Multipress fittings)
  •  Climatika® Floor- and wall heating system (with radiating panels)
  • Coestilen® PE pipes and fittings
  • PP-R piping systems: Coestherm® / BluePower® and PhoNoFire® system with coupling joints

The COES production capacitiy of PE-Xb/Al/ multilayer pipes has been around 25 million meters per year. Italy is after Germany the second largest producer of multilayer pipes (Source: KWD Market+Charts “Multilayer Pipes worldwide 2010”).

As a result of the worldwide financial crisis, many Italian mult layer pipe producers had problems: Newly supplied machinery and equipment has not become operational and other extrusion lines have been closed.

Source: The Law Court of Milan, Italy