BRUSSELS, February 17, 2020-

The Spanish specialty cellulose and viscose group Sniace has decided to cease its activities. The company said it will request its liquidation and that of its two subsidiaries Celltech and Viscocel today.

The move follows the decision of Cogen Energía España, the firm that used to operate Sniace's cogeneration plant, to interrupt the supply of gas due to the Spanish government's initiative to reduce the remuneration for cogeneration plants by up to 35%.

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