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Finnish fridge maker in talks to restart Hungary production

Finnish-owned refrigerator maker Helkama-Forste Kft may restart production at its Hungarian plant in Tata, west Hungary, this June, daily Napi Gazdaság reported.

Helkama-Forste filed for bankruptcy protection last November and discharged 124 employees after it piled up debts of HUF 4 billion.

The company is now pushing to raise the over HUF 800 million it needs to re-launch production. According to the paper, Helkama-Forste owes over a hundred creditors, including suppliers, affiliated companies and a bank. The company is still in talks with creditors to work out an agreement or pay its debts by June 22. In the last round of negotiations, the local fridge company pledged to pay off suppliers in 2 years.