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Greek State To Guarantee 35 Million Loan To United Textiles

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The five main creditor banks of United Textiles will decide on Monday, July 28, on whether to finance the restructuring of United Textiles, under 35 million euro guarantee by the Greek state, the Finance Ministry says in a press release.

 

The Greek state will guarantee the loan under the condition that the shares of United Textiles main shareholder are pledged.

 

Yesterday, the company announced that its main shareholder consents to the pledging of his shares.

 

Today, the general secretary of the Finance Ministry Giannis Sidiropoulos met with United Textiles workers representatives. The meeting was attended by trade union representatives. Mr Sidiropoulos said that the Finance Ministry will take measures for the support of the troublesome industry and the textile sector in general, and the protection of jobs.

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