USA: Polymer Group Dismisses Involuntary Petition
The world's third largest producer of nonwovens, Polymer Group Inc, said today it has reached an agreement that results in the dismissal of the Involuntary Petition filed against it late last month. The South Carolina-based company said in a statement it had agreed a deal with the petitioning creditors which will see it continue financial restructuring discussions through May 12, 2002.