[Hungary] Glassmaker Liquidated

Tokodi Glass, the Hungarian glass container manufacturer, is being liquidated following its owners' decision to cease production. The company was Hungary's third biggest glass producer and followed its neighbour ST Glass into financial problems. Concur, the company conducting the liquidation of Tokodi Glass, has been evaluating the company's assets to assess whether it would be viable to split it into smaller units. Banks have withdrawn their support for Tokodi, which blames its problems on delays by Hungary's environmental authorities in approving a technical investment project.