Examiner of Louth magnesium company gets more time for rescue plan

The company is a specialist and world leader in making magnesium oxide and magnesium hydroxide products used in the manufacture of heat-resistant lining for furnaces.

Counsel said Mr Hughes still believes a scheme can be put together with the firm’s creditors that would allow it to survive as a going concern. However, others remained interested in investing in the firm but were looking at a plan that would involve it switching from using natural gas to renewable energy sources.

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