Covia Holdings Emerges from Chapter 11
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Covia Successfully Completes Financial Restructuring and Emerges from Chapter 11
December 31, 2020 1:19 PM ESTReduced obligations by over $1 billionImproved operational flexibility to better serve customers and other stakeholdersStrengthened competitive position of high-quality assetsEmerges with approximately $175 million of total liquidity
INDEPENDENCE, Ohio, Dec. 31, 2020 (GLOBE NEWSWIRE) -- Covia today announced that it has successfully completed its financial restructuring and emerged from Chapter 11. Through the restructuring, Covia has reduced its long-term debt by approximately $750 million and its fixed costs, including railcar obligations, by an additional $300 million.
"Today marks a new beginning for Covia.... More
